Axtel S.A.B. de C.V. and its subsidiaries (IIC-12134-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Specific Location
Monterrey
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
Dec 12, 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
Axtel S.A.B. de C.V. and its subsidiaries
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
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)
$ 40.00 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
Primary Source

Original disclosure @ IIC website

Updated in EWS Aug 17, 2021

Disclosed by Bank Nov 2, 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.

The transaction consists of IDB Group participation in the financing, via electronic factoring, of the more than 1,500 active suppliers of Axtel’s supply chain through a revolving and uncommitted discount line for a maximum amount of US$40,000,000 (forty million U.S. dollars) or the equivalent thereof in Mexican pesos. 

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

The transaction consists of IDB Group participation in the financing, via electronic factoring, of suppliers in Axtel’s supply chain through a revolving and uncommitted discount line for a maximum amount of US$40,000,000 (forty million U.S. dollars) or the equivalent thereof in Mexican pesos. Under that discount line, the IIC will acquire, at its full discretion and through the electronic platform of E Factor Network, S.A. de C.V. (“EFN”), credit rights against Axtel of eligible suppliers which have previously been acquired by E Factor Diez, S.A. de C.V. SOFOM ENR (“EFD”).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Axtel S.A.B. de C.V. 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: Gilberto Contreras Castro
Coordinador Corporativo de Seguridad Industrial, Axtel
Phone number: +52 (81) 8114 0000
Email Address: gcontreras@axtel.com.mx

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