Iche - Young People Cooking the Future: Promoting Ecuador's Gastronomic Ecosystem (IADB-EC-T1578)

Countries
  • Ecuador
Geographic location where the impacts of the investment may be experienced.
Specific Location
Manabi
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
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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 5, 2024
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
Fundación FUEGOS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.50 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)
$ 0.73 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 @ IADB website

Updated in EWS Aug 15, 2025

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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 IADB, the objective of the project is to strengthen the gastronomic innovation ecosystem in Manabi through the creation of the Instituto Superior Tecnico Iche (IST Iche). IST Iche will contribute to increasing adequate employment for vulnerable youth in Manabi by providing socio-emotional and technical training related to the Manabi gastronomic culture.

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

De acuerdo con el IADB, El socio La Secreta S.A. y la Fundación FUEGOS serán las agencias ejecutoras. Ambas son fundadoras del Ecosistema Iche, un espacio integrado por múltiples unidades de gestión que interactúan entre sí para hacer de los alimentos y el turismo catalizadores de la transformación económica, ambiental, cultural y social.
La Secreta S.A. es una empresa privada establecida en Ecuador en el 2019 como una sociedad anónima con el objetivo de proveer bienes y servicios necesarios para la transformación de la cadena de valor gastronómica – alimenticia y turística de Manabí. La Secreta S.A. está iniciando el proceso para convertirse en una Empresa B que le permita implementar estándares y evaluar sus impactos económicos, sociales y ambientales en el territorio de su influencia.
La Fundación FUEGOS es una organización sin fines de lucro que fue creada para asegurar que las unidades de negocio del Ecosistema Iche mantengan una visión de desarrollo social que complemente la búsqueda de generación de utilidades y sostenibilidad financiera. Dadas las diversas interacciones entre La Secreta S.A., la Fundación FUEGOS y el naciente Instituto de Educación Superior Iche han desarrollado un manual de gobernanza para las tres organizaciones, que permita gestionar de forma transparente y eficiente sus roles y alcanzar de forma más efectiva sus objetivos


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 contacts available at the time of disclosure

ACCOUNTABILITY MECHANISM OF IADB

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