Indublog (IDBI-12242-01)

Countries
  • Ecuador
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 30, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Indublog S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 34.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jun 10, 2019

Disclosed by Bank Apr 26, 2019


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Project Description

The IDB Invest operation consists of two transactions: (i) a loan of up to US$24 million for a term of 11 years, intended to partially fund the construction and start-up of Induglob S.A.'s new household appliance production plant (the "Company" or "Induglob") located in the south of Ecuador, which will be guaranteed by all the assets of the project to be financed; and (ii) an uncommitted facility for up to US$10 million over a 12-month period, to be guaranteed by Induglob's portfolio with eligible clients, which constitutes a new source of funding for the Company's working capital needs (the Project"). The Project is aligned with the Government of Ecuador's plan to reactivate the local economy by encouraging investments that allow for a change in the country's production matrix.

Investment Description
  • IDB Invest
Private Actors
Contact Information

Gustavo Moscoso
Project Coordinator
Telephone: 0997669259
E-mail:
gmoscoso@consenso.com.ec

Marcia Ochoa
Financial Manager
Telephone: (593-7) 2 882900 ext. 132
E-mail:
mochoa@indurama.com

 

For project inquiries, including environmental and social issues related to an IDB Invest transaction, please contact the client (see Investment Summary sheet), or e-mail IDB Invest at divulgacionpublica@iadb.org. As a last resort, affected communities can access IDB Invest's Independent Consultation and Investigation Mechanism by emailing mecanismo@iadb.org or MICI@iadb.org, or by calling the telephone number +1(202) 623-3952.