Ta - Ta (IDBI-13004-01)

Countries
  • Uruguay
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 22, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Ta - Ta S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Aug 17, 2021

Disclosed by Bank Dec 23, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
<div class="block">The proposed IDB Invest financing for an amount in Uruguayan pesos equivalent to up to US$50 million (up to $15 million equity + up to $35 million in senior financial debt) will be used to partially finance the company&rsquo;s capital investments between 2020 and 2025 for an amount in Uruguayan pesos equivalent to US$104 million. This includes investments in the opening of stores, logistics of the Operations Center (OC), systems and technology, and maintenance of premises in order to achieve the Company&rsquo;s expansion and omnichannel retailing of the Company in Uruguay.<br /> <div class="intro-frame block-wysiwyg"><br /> <div>&nbsp;</div> <br /> <div>The project will allow the Company to increase the volume of operations with its suppliers, many of which are SMEs. Ta-Ta&rsquo;s philosophy is to develop local suppliers for different categories of its own brands. Support for this chain contribute to the following SDGs: (i) decent work and economic growth; (ii) industry, innovation and infrastructure; and (iii) responsible consumption and production.</div> </div> </div>
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

For inquiries about the Project, contact:

Name: Michel Skinner

Title: CFO

Phone number: +598 92 530 435

Email:michel.skinner@tata.com.uy

For questions and comments to IDB Invest please contact:

Name: IDB Invest Communication Group

Email:requestinformation@idbinvest.org

Additionally, affected communities can access the IIC's Independent Consultation and Investigation Mechanism (ICIM) as follow:

Phone number: +1 (202) 623-3952

Fax number: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

Email:mecanismo@iadb.orgorMICI@iadb.org

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

1) The funding of US$50 million lended to Ta - Ta splits into two parts. The first one, up to $15 million, is related to an equity. The second, up to $35 million, is a senior financial debt.

2) The credit is NOT in dollars, but in Uruguayan pesos.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Ta - Ta S.A. Client Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For inquiries about the Project, contact:

Name: Michel Skinner

Title: CFO

Phone number: +598 92 530 435

Email: michel.skinner@tata.com.uy

 

For questions and comments to IDB Invest please contact:

Name: IDB Invest Communication Group 

Email: requestinformation@idbinvest.org

Additionally, affected communities can access the IIC's Independent Consultation and Investigation Mechanism (ICIM) as follow: 

Phone number: +1 (202) 623-3952

Fax number: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

Email: mecanismo@iadb.org  or  MICI@iadb.org 

How it works

How it works