Quick Facts

Where the impacts of the investment may be experienced.
  • Mexico
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)
Status: Proposed
Bank Risk Rating: U
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: 2018-02-22
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: Edilar
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Education and Health
Investment Type(s): Guarantee, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 540.00 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: 2018-01-16
Disclosure Date: 2018-01-11
Warehousing Line and Partial Credit Guarantee for EDILAR Securitization

Project Description
From the IIC: "Edilar's main activity is the sale of educational materials, educational technologies, and continuing education services through term financing, generating accounts receivable that Edilar charges through payroll deduction that teachers have with the government entities in which they work. Edilar also gives loans to finance teachers' educational purposes, which is also repaid with a payroll discount." See the IIC website for the ENVIRONMENTAL REVIEW.
Investment Description
Includes financing of up to MXN $540 million in two phases (i) a revolving warehousing line of up to MXN $360 million and (ii) one or more partial credit guarantees for an amount of up to MXN $180 million to guarantee the securitization of Edilar portfolio in the local capital markets. See IIC website for further detail.
Private Actors
Contact Information
Contact Name: Ana Lilia Estrella Montoya Title: General Manager Telephone: +52 55 5398 2597 Email: aestrella@redmagistgerial.com 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).