Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Brazil
  • Paraguay
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: 2017-12-15
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: Durlicouros Industria e Comercio de Couros, Exportacao e Importacao Ltda., Durli Leather S.A., and V
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 50.00 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: 2018-01-08
Disclosure Date: 2017-11-08
Durli
IIC-12100-02AND12100-03

Project Description
According to the IIC: Durli Brazil and Durli Paraguay 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. Durli operates 8 plants, including six own plants based in the cattle ranching areas of Brazil and two leased facilities in Bahia and Rondonia. In Brazil Durli produces Wet Blue, Crust Leather and Finished Leather. The Paraguay operation is planned to produce only Wet Blue. See original disclosure from IIC for more information on proposed due diligence, environmental review, and the Environmental and Social Management System. IIC notes that IICs environmental and social due diligence indicates that the investment will have impacts, which must be managed in a manner consistent with the following Performance Standards: PS 1 - Assessment and Management of Environmental and Social Risks and Impacts PS 2 - Labour and working conditions PS 3 - Resource Efficiency and Pollution Prevention PS 4 - Community Health, Safety and Security.
Investment Description
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 Actors
Contact Information
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).