Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Mexico
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-09-13
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Viviendas Integrales S.A.P.I. de C.V. ("Vinte")
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Construction
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 16.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-07-28
Viviendas Integrales S.A.P.I. de C.V.
IIC-11307-04

Project Description
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.
Investment Description
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.
Contact Information
For inquiries about this project, contact divulgacionpublica@iadb.org. 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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