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: 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: Cemex, S.A.B. de C.V. ("Cemex")
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): $ 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: 2017-12-14
Disclosure Date: 2017-11-13
Cemex
IIC-12120-01

Project Description
IIC's SCOPE, OBJECTIVE: The line of credit will provide Cemex's suppliers with financing. The IIC has identified that the IFC Performance Standards triggered in this operation are the following:* Performance Standard 1: Assessment and Management of E&S Risks and Impacts* Performance Standard 2: Labor and Working Conditions* Performance Standard 3: Resource Efficiency and Pollution Prevention* Performance Standard 4: Community Health, Safety and Security2. Environmental and Social Context. See IIC's project disclosure for the bank's full ENVIRONMENTAL REVIEW.
Investment Description
The operation with Cemex consists of an Uncommitted Revolving Line of Credit for US$50 million, or its equivalent in Mexican Pesos to purchase accounts payables issued by Cemex or one of its eligible subsidiaries. The Facility will have an initial tenor of 12 months, renewable on a yearly basis at IICĀ“s discretion for up to 6 additional years.
Private Actors
Cemex is a multinational cement company that quotes ordinary shares and American Depositary shares in the Mexican and New York stock exchanges, respectively. Incorporated in Mexico in 1906, it currently provides construction related services to clients and communities in more than 50 countries throughout the world and maintains business relations in more than 100 countries throughout the world. As of December 31st, 2016, Cemex operated 15 cement plants, 15 aggregated quarries and 275 premixed concrete plants in Mexico. As of December 31st, 2016, the company employed 41,853 people throughout the world, of which 11,249 were in Mexico. Together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials.
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).