Company name
Costa Rica Pallet & Pooling Co. Corp.
Project number
14059-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Regional
Sector
Manufacturing
Status
In implementation
Disclosed date
07/22/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/26/2022
Approval date
09/26/2022
Signed date
10/07/2022
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 12,000,000
Currency
USD
Project scope and objective
The transaction consists of a mezzanine loan in favor of Costa Rica Pallet & Pooling Co Corp. (“RAP”) to finance its growth in production capacity through the rental of pallets for transportation and commercial logistics, mainly in the Dominican Republic (where it will start operations) and in Central America where it concentrates its current operations.
This long-term loan for up to seven years, with a grace period of up to 12 months, has a committed tranche of US$8 million and an uncommitted tranche for the remaining balance, subject to the discretion of IDB Invest, which may be used for future growth in the medium term. The use of funds includes investments mainly in pallets, which RAP rents to local and multinational companies.
RAP was born in 2001 as a family business, with operational headquarters in Costa Rica, offering pallet rental, export, repair, and reuse services, managing to give circularity to goods that in the past were traditionally single-use material. It has operations in the Central American region, but Costa Rica is its main market. With this financing operation, RAP will have a broad Environmental and Social Action Plan and a Corporate Governance Action Plan that will allow it to align with the best international standards in the sector.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
Carlos.Monge@rentapallet.com
PHONE NUMBER
(506) 4010-4119
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
RENT A PALLET - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
286.7 Kb
RENT A PALLET - PLAN DE ACCIÓN AMBIENTAL Y SOCIAL (PAAS O ESAP)
174.1 Kb