Kuo Group - Value Chain Financing (IDBI-13209-01)

Countries
  • Mexico
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
Bank Risk Rating
C
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
Sep 21, 2020
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
Grupo KUO, S.A.B. de C.V.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 0.05 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported Up to MX$1,100 million
Converted using 2020-09-24 exchange rate.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Sep 24, 2020

Disclosed by Bank Aug 20, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

Grupo KUO, S.A.B. de C.V. and its eligible subsidiaries (the "KUO Group" or "the Company") has requested financial assistance from IDB Invest to set up an uncommitted reverse factoring revolving credit facility (the "Facility") to finance the Company's suppliers in Mexico through the acquisition of collection rights (the "Project" or the "Operation"). The Operation includes accounts receivable whose payment will be deferred due to the exceptional measures taken by the Company to mitigate the impact of COVID-19 on its suppliers.

Investment Description
  • IDB Invest (IDBI)

The "Investment Type" was not available at the moment of the snapshot.

Private Actors
Contact Information

For inquiries about the Project please contact Grupo KUO

Name: María Teresa Calderón Renero

Title: Sustainability and Social Responsibility Management

Phone number: (+52) 55 52618000 ext. 2756

Email: maria.calderon@kuo.com.mx

For questions and comments to IDB Invest please contact:

Name: IDB Invest Communication Group

Email: requestinformation@idbinvest.org

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

Phone number: +1 (202) 623-3952

Fax number: +1 (202) 312-4057

Address: 1350 New York Ave. NW Washington, DC. USA. 20577

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