Grupo Elcatex/San Juan Textiles II (IDBI-13889-01)

Countries
  • Honduras
Geographic location where the impacts of the investment may be experienced.
Specific Location
Choloma en la Zona Industrial de Procesamiento (“ZIP”) San Juan Innovation Park
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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
May 19, 2022
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
Elcatex, S. de R.L. de C.V. and San Juan Textiles S. de R.L. de C.V.
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)
$ 20.00 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)
$ 20.00 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 Apr 1, 2022

Disclosed by Bank Mar 23, 2022

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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.

Elcatex, S. de R.L. de C.V. ("Elcatex") y San Juan Textiles, S. de R.L. de C.V. son dos empresas textileras que fabrican telas, cortan y costuran piezas de ropa para exportacion.

La transaccion consiste en un prestamo principal, garantizado y de largo plazo para Elcatex y San Juan Textiles S. de R.L. de C.V. Los objetivos del proyecto son: (i) apoyar el crecimiento economico y la diversificacion de exportaciones; (ii) financiamiento de inversiones de capital y capital de trabajo para la construccion y adaptacion de obras civiles auxiliares y adquisicion de maquinaria textil para el incremento en la produccion de la planta San Juan Textiles, ubicada en Choloma en la Zona Industrial de Procesamiento ("ZIP") San Juan Innovation Park; y (iii) compra de equipo de costura y acondicionamiento de plantas de costura en Honduras.

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

Contact Information
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ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB 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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