Company name
Vicunha Ecuador S.A.
Project number
13127-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Ecuador
Sector
Manufacturing
Status
In implementation
Disclosed date
07/16/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/03/2020
Approval date
12/03/2020
Signed date
06/25/2021
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
This transaction (the "Operation" or "Transaction") is the third operation undertaken with Vicunha Ecuador S.A. (the "Client" or the "Company"), which is part of a major Brazilian textile manufacturing group (Vicunha Brasil). The Operation seeks to provide financial assistance to the Client, who has been forced to materially decrease the operations of its Quito plant since March and its exports since April 2020, as a result of the measures adopted by the Government of Ecuador to cope with the COVID-19 global pandemic. The Transaction consists of providing the Client with working capital to: i) extend the maturity of outstanding payments for existing loans granted by Inter-American Development Bank (IDB); and ii) finance the Company's working capital needs to recover its operations.
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
16 LICENCIA VICUNHA PLANTA INDUSTRIAL.PDF
4.0 Mb
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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(292) 623-3952.
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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.
VICUNHA ECUADOR - ESRS AND ESAP 2020-07-16 INGLÉS
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