Durli (IIC-12100-02AND12100-03)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Brazil
  • Paraguay
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
Dec 15, 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
Durlicouros Industria e Comercio de Couros, Exportacao e Importacao Ltda., Durli Leather S.A., and V
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)
$ 50.00 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 @ IIC website

Updated in EWS Sep 20, 2018

Disclosed by Bank Nov 8, 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 proposed financing consists of two separate long-term loans to be granted directly to Durlicouros Indústria e Comércio de Couros, Exportação e Importação Ltda. in Brazil and to Durli Leather S.A. and Veneza Inversiones S.A. in Paraguay. The Borrowers will use the proceeds of the loans to support the construction, operation, and maintenance of two new leather manufacturing plants (one in Brazil and one in Paraguay), its working capital needs and refinancing of existing debt in Brazil. 

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

The proposed financing consists of two separate long-term loans to be granted directly to Durlicouros Industria e Comercio de Couros, Exportacao e Importacao Ltda. in Brazil and to Durli Leather S.A. and Veneza Inversiones S.A. in Paraguay. The Borrowers will use the proceeds of the loans to support the construction, operation, and maintenance of two (2) new leather manufacturing plants (one (1) in Brazil and one (1) in Paraguay), its working capital needs and refinancing of existing debt in Brazil.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Durli Couros Client -
- - - - Durli Couros Indústria e Comércio de Couros 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.

Project Contact: Mr. Christiano Frizzo

Director, Duril
Address: Rod BR 376 Numero 26915-A CEP 83.090-360 São Jose dos Pinhais – PR - Brasil
Phone No.: +55 41 33061345
Email Address: http://christiano.frizzo@durlicouros.com.br

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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How it works