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.
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|
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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).