The transaction consists of guaranteed long-term financing for Elcatex, S. de R.L. (henceforth, "ELCATEX", "the Company" or "the Client"), a leading textile industry company in Honduras. The objectives of the Project are: (i) to support economic growth and export diversification; (ii) construction and fit out of a new textile plant (San Juan Textiles Project) located in San Juan Innovation Park, an Export Processing Zone ("EPZ") in Choloma; (iii) purchase of sewing equipment; and (iv) to finance capital investment, working capital and liability restructuring to increase ELCATEX's production capacity.
Legal Corporate Director and Treasury
ACCOUNTABILITY MECHANISM OF IADB
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).