Vinte Green PCG (IFC-49771)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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."
Borrower
PROMOTORA DE VIVIENDAS INTEGRALES, S.A. DE C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
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)
$ 58.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 24, 2024

Disclosed by Bank Aug 31, 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.

According to the IFC, Vinte Viviendas Integrales S.A.B. de C.V. (Vinte or “the company”) is a leading real estate developer in Mexico focused on urban development and home building (vinte.com.mx). IFC is considering A loan and partial credit guarantee (PCG) of up to MXN 1,150 million (~US$ 58 million) to finance the acquisition of Servicios Corporativos Javer S.A.B. de C.V. (“Javer”). Vinte is an existing IFC portfolio client and based on supervision to date its environmental and social (E&S) performance has been satisfactory. 

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

IFC is considering A loan and partial credit guarantee (PCG) of up to MXN 1,150 million (~US$ 58 million) to finance the acquisition of Servicios Corporativos Javer S.A.B. de C.V. (“Javer”). 

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.

According to the IFC, Vinte is an existing IFC portfolio client and based on supervision to date its environmental and social (E&S) performance has been satisfactory. Also, Javer is an urban development business that develops greenfield residential areas generally located on the outskirts of cities, in plots to be integrated into the urban areas. Javer’s development process includes selecting and buying land plots, building houses, and basic communal infrastructure (water, sewer, gas, and electric systems, transport infrastructure, sidewalks, and recreation zones.  Javer's scope of work involves developing water sources, such as wells, and water treatment and wastewater treatment plants in projects where public water and sewer services are not available. If water and wastewater treatment plants are built, their management, operation, and maintenance are transferred to the utility company. Javer has an in-house design and engineering team that develops and supervises projects, including residential buildings. The construction of urban development and housing projects is performed by construction contractors selected through a tender process. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PROMOTORA DE VIVIENDAS INTEGRALES (VINTE) Client -
- - - - Servicios Corporativos Javer S.A.B. de C.V Subsidiary -

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.

  Contact Person: Gonzalo Pizzuto Aznar

Company Name: Vinte

Address: Downtown Santa Fe, Av. Santa Fe 428, Torre 1, Piso 12, Oficina 1201, Col. Alcaldía Cuajimalpa, Ciudad de México, México. C.P. 05349

Email: gonzalo.pizzuto@vinte.com

Phone: +52-55-5010-7360


ACCESS TO INFORMATION

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If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works