Compania Distribuidora de Nicaragua S.A. (IIC-12082-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Nicaragua
Geographic location where the impacts of the investment may be experienced.
Specific Location
Sabana Grande, Managua
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.
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 8, 2017
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
Compania Distribuidora de Nicaragua S.A. (CDN)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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)
$ 13.00 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.
Project Cost (USD)
$ 25.00 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.
Bank Documents
Primary Source

Original disclosure @ IIC website

Updated in EWS Sep 20, 2018

Disclosed by Bank Aug 4, 2017

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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 IIC website, the project aims to provide long-term financing for the construction of a new distribution center located in Sabana Grande, outside of Managua capital. The construction will include storage warehouses, parking lots, administrative office buildings, service areas, and a new filtration well system, which re-inserts rainwater into the aquifers of the zone. This will be the biggest warehousing facility in the country that has this sustainability characteristic.

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

IIC financing for the project is estimated in US$13 million. The estimated total project is estimated at US$25 million.

The Compañía Distribuidora de Nicaragua S.A. (CDN) is a recently formed distribution company with operations in Nicaragua since 2013, and is a subsidiary of INCECA (holding company), which also owns “Compañía Cervecera de Nicaragua” or “CCN” (largest Nicaraguan beverage company that produces water, juice, and beer) and “Punto Ideal” (a chain of convenience stores).

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.

The IDB Invest notes the following private actor description on its site: "The Compañía Distribuidora de Nicaragua S.A. (CDN) is a recently formed distribution company with operations in Nicaragua since 2013, and is a subsidiary of INCECA (holding company), which also owns “Compañía Cervecera de Nicaragua” or “CCN”(largest Nicaraguan beverage company that produces water, juice, and beer) and “Punto Ideal” (a chain of convenience stores)."

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Compañía Cervecera de Nicaragua Subsidiary -
- - - - Compañía Distribuidora de Nicaragua S.A. Subsidiary -
- - - - Inversiones Cerveceras Centroamericanas, S.A. Parent Company -

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.

No contact information provided at the time of disclosure.

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).

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