This Transaction consists in subscribing a senior corporate bond for up to USD 20 million over a term of up to 5 years for Corporacion El Rosado S.A. ("El Rosado"). It also entails mobilizing resources to complete the cost of the Project, totaling USD 25 million. The use of funds is made up by sustainable investments for the period 2023-2024 related to the production of clean energy, energy efficiency and reduction of CO2 emissions.
El Rosado is a company with over 66 years' experience being one of the largest groups of companies in Ecuador with presence countrywide through its different business lines including the second largest supermarket chain in Ecuador. As from its inception, the Company has been involved in the development of the private and national sector currently being one of the largest employers in Ecuador.
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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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).