Viviendas Integrales S.A.P.I. de C.V. (IIC-11307-04)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
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.
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
Sep 13, 2016
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
Viviendas Integrales S.A.P.I. de C.V. ("Vinte")
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)
$ 16.00 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.
Campaign Documents
Other Related Projects
Primary Source

Original disclosure @ IIC website

Updated in EWS Aug 23, 2018

Disclosed by Bank Jul 28, 2016

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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 Inter-American Development Bank Invest (IDB Invest), formerly the Inter-American Investment Corporation (IIC), Vinte is a holding company with subsidiaries that develop, promote, design, build, and sell social-interest, middle-income, and upper-income housing, primarily in five states in the center of Mexico. The proposed operation with Vinte is a revolving credit line for financing the construction of social-interest, middle-income, and upper-income housing in Mexico.

The principal potential risks and impacts identified have to do with evaluating and managing environmental and social risks; workplace and labor conditions; efficient resource use and pollution prevention; community health and safety; land acquisition and involuntary resettlement; and cultural heritage. The system for managing the corresponding procedures is considered appropriate by the IIC for identifying, managing, and mitigating these risks. The company complies with local and national laws and with the commitments made in its environmental impact statement.

This project has been categorized as a Category B project, as it has potential environmental and social impacts and risks that are generally reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

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

The proposed revolving credit line of MX$300 million will comprise a committed tranche of MX$200 million and an uncommitted tranche of MX$100 million.

Vinte is a current client of the World Bank’s IFC and of the IIC.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Vinte Viviendas Integrales 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.

For inquiries about this project, contact divulgacionpublica@iadb.org.

ACCOUNTABILITY MECHANISM OF IIC

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 (IIC)-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 IIC 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