Early Warning System

Countries

Mexico

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

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

Apr 19, 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

AlEn del Norte, S.A de C.V and its incorporated subsidiaries in Mexico ("AlEn" or the "Company")

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

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

Environmental and Social Review Summary (ESRS) ALEN – MEXICO

Primary Source

Original disclosure @ IDBI website

Updated in EWS Mar 5, 2021

Disclosed by Bank Feb 23, 2021

Contribute Information
Can you contribute information about this project?
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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.

The transaction consists in a noncommitted revolving reverse factoring facility (the "Transaction") to be provided by IDB Invest to AlEn del Norte, S.A. de C.V. and its incorporated subsidiaries in Mexico ("AlEn" or the "Company"). At its sole discretion, IDB Invest will be entitled to: purchase or discount the credit rights held by suppliers payable by AlEn previously confirmed by the latter through an eligible electronic platform.

AlEn is a Mexican company engaged in manufacturing, packing and selling liquid chemical products distributed in the household cleaning products market. Its supply chain in Mexico is made up by 2,500 suppliers, mostly micro-, small- and medium-sized enterprises (MSMEs).

Through the Transaction, IDB Invest seeks to enable financing at competitive prices for AlEn's suppliers in Mexico by discounting or monetizing their credit rights arising from the sale of goods and/or services to AlEn. The average expiry of the credit rights under the Transaction is expected to be 180 days. Reverse factoring solutions are aimed at enabling access to viable financing to suppliers which are mostly MSMEs.

Investment Description

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

IDB Invest (IDBI)

The investment amount was not availabçe at the moment of the snapshot.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
AlEn del Norte, S.A. de C.V.	Parent Company	Industry and Trade	owns	AlEn México	Contractor	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 questions about this Transaction, contact ALEN del Norte, S.A. de C.V.:

Name: Imelda Loveli Suarez Silva

Title: Treasury Management

Phone number: + 52 81 8122 1000

Email: loveli.suarez@alen.com.mx

For questions and comments to IDB Invest, contact:

Name: IDB Invest Communications Group

Email: requestinformation@idbinvest.org

In addition, as a last resource, affected communities have access to the Independent Consultation and Investigation Mechanism of IDB Invest as follows:

Phone number: +1 (202) 623-3952

Fax: +1 (202) 312-4057

Address: 1300 New York Ave. NW

Washington, DC. USA. 20577

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