PROTEAK - Forestal (IDBI-14594-01)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Specific Location
Tabasco
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
Hold
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
Aug 13, 2024
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
PROTEAK UNO S.A.B. DE C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
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)
$ 19.52 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)
$ 19.52 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 Nov 25, 2024

Disclosed by Bank Jun 21, 2024

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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.

De acuerdo con el IDB Invest, la transaccion propuesta consiste en un Prestamo Verde senior garantizado de hasta MXN 800 millones que se otorgara a Proteak Uno SAB de C.V. ("Proteak"), que consiste en: (i) un Prestamo comprometido de hasta MXN 400 millones con un plazo de hasta [diez/doce] anos, incluido un periodo de gracia de [60] meses; y (ii) un prestamo no comprometido de hasta MXN 400 millones con un plazo de hasta [diez/doce] anos, incluido un periodo de gracia de [60] meses (en conjunto, el "Prestamo"). Proteak ha elegido la Melina de manera estrategica debido a que sus caracteristicas fisicas y mecanicas permiten transformarla en diferentes productos por lo que su mercado es amplio. Ademas, es una especie de rapido crecimiento lo que permite tener un ciclo nuevo cada 6 anos.

El Prestamo financiara la reproduccion de clones, el uso de tierras deforestadas para reforestacion y el manejo sostenible de las plantaciones de Melina. Para ser clasificado como prestamo verde, el uso de fondos del proyecto se encuentra, y debera continuar, alineado a los Principios de Prestamos Verdes de la lista[1]. El Proyecto estara ubicado estrategicamente en la region de Tabasco (Mexico), donde el suelo y el clima aseguran condiciones ideales para este cultivo.

[1] Loan Syndications and Trading Association

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.

De acuerdo con el IDB Invest, Proteak es una destacada empresa forestal mexicana. El Proyecto (el "Proyecto") consiste en la producción y comercialización de Gmelina arborea (“Melina”) en la provincia de Tabasco, México. El Proyecto será llevado a cabo por Proteak Uno S.A.B. de C.V. (“Proteak” o “la Empresa”), compañía pública que cotiza en la Bolsa Mexicana de Valores bajo el nombre “TEAK”.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Proteak Uno, S.A.B. de C.V. Client -

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.

Client Contact

EMAIL

alejandro.ramirez@irconsulting.mx

PHONE NUMBER

+52 (55) 6235 1504

POST OFFICE ADDRESS

https://proteak.com/en/home/

 

EMAIL: requestinformation@idbinvest.org

PHONE: +1(202)-566-4566

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

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).

How it works

How it works