According to IIC website, the operation with Cemex consist of an Uncommitted Revolving Line of Credit for US$50 million, or its equivalent in Mexican Pesos to purchase accounts payables issued by Cemex or one of its eligible subsidiaries. It will provide Cemex’s suppliers with an innovative alternate solution to finance their working capital needs, using E-Factor Network platform to sell to the IIC Cemex’s accounts payables. This solution will enable Cemex’s suppliers, to obtain financing in much favorable conditions than those they can obtain in the local market on their own.
The operation with Cemex consists of an Uncommitted Revolving Line of Credit for US$50 million, or its equivalent in Mexican Pesos to purchase accounts payables issued by Cemex or one of its eligible subsidiaries. The Facility will have an initial tenor of 12 months, renewable on a yearly basis at IIC´s discretion for up to 6 additional years.
Cemex is a multinational cement company that quotes ordinary shares and American Depositary shares in the Mexican and New York stock exchanges, respectively. Incorporated in Mexico in 1906, it currently provides construction related services to clients and communities in more than 50 countries throughout the world and maintains business relations in more than 100 countries throughout the world. As of December 31st, 2016, Cemex operated 15 cement plants, 15 aggregated quarries and 275 premixed concrete plants in Mexico. As of December 31st, 2016, the company employed 41,853 people throughout the world, of which 11,249 were in Mexico. Together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials.
Project Contact: Ricardo Armendáriz
Treasurer – Cemex Mexico
Phone number: +52 81 8328 3370
Email address: firstname.lastname@example.org
ACCOUNTABILITY MECHANISM OF IIC
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).