Indufoam (IDBI-13596-01)

Countries
  • El Salvador
Geographic location where the impacts of the investment may be experienced.
Specific Location
El Salvador
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Jul 10, 2023
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
Industria de Espuma SA de CV
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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 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.
Loan Amount (USD)
$ 10.00 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.
Project Cost (USD)
$ 10.00 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 Jun 5, 2023

Disclosed by Bank May 30, 2023

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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.

Indufoam es una compañía con sede en El Salvador que se dedica a la producción de una variedad de productos relacionados con el descanso, incluyendo camas, colchones, colchonetas de espuma, muebles de sala y accesorios. La empresa tiene presencia con sus productos en Centroamérica, Suramérica y Sudáfrica a través de sus actividades de exportación.

La transaccion que se esta considerando es una facilidad de credito de mediano plazo con el objetivo de financiar la ampliacion de la planta industrial, mejoras y ampliacion en el equipamiento existente y capital de trabajo para el crecimiento, dado el crecimiento de sus volumenes en varias lineas de negocio. Este prestamo tendra un plazo de hasta 5 anos pero tendra la innovacion de posibilitar la renovacion adicional parcial por una unica vez, a discrecion de BID Invest y de acuerdo al cumplimiento y avance de su plan de inversiones.

El objetivo principal de esta transacción es permitir a Indufoam satisfacer el aumento en la demanda y expandirse en nuevas tecnologías, producir mecanismos y accesorios que actualmente solo se fabrican en Estados Unidos o Europa y abasteciendo estos a mercados regionales. Esto no solo generara nuevos empleos, sino que tambien aumentara las exportaciones, fortaleciendo las lineas de productos y consolidando su rol como empresa regional.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Industrias de Espuma SA de CV


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.

CORREO ELECTRÓNICO: requestinformation@idbinvest.org

TELÉFONO: +1(202)-566-4566

DIRECCIÓN: 1350 New York Ave NW, Washington, DC 20005

ACCESO A LA INFORMACIÓN

Puede enviar una solicitud de divulgación de información en: https://www.iadb.org/en/access-information/information-request

MECANISMO DE RENDICIÓN DE CUENTAS DEL BID / BID INVEST

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 (IDB Invest)-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 IDB Invest 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).

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