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
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C

Country

Ecuador

Sector

Manufacturing

Status

Proposed

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
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12/03/2020

Approval date

12/03/2020

Signed date

06/25/2021

Sponsoring entity

N/A

Team leader

Jimenez Grandes, Gabriel

Investment type

Financing requested

N/A

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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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

VICUNHA ECUADOR - ESRS AND ESAP 2020-07-16 INGLÉS

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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

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

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