PROJECT

Projects

Environmental & Social Review Summary

Project Number

46559

Company Name

INTERNACIONAL DE INVERSIONES, S.A.P.I. DE C.V.

Date ESRS Disclosed

Oct 26, 2022

Country

Mexico

Region

Latin America and the Caribbean

Last Updated Date

Nov 19, 2025

Environmental Category

B - Limited

Status

Pending Disbursement

Previous Events

Approved : Nov 18, 2022
Signed : Dec 22, 2022

Sector

other

Industry

other

Department

Regional Industry MAS LAC & EUR

Project Description

 The proposed investment entails an up to MXN500m (~US$24m equivalent) unfunded Partial Credit Guarantee (“PCG”) to support Internacional de Inversiones S.A.P.I. de C.V. (“IDEI” or the “Company”) on its first ever public bond issuance of MXN1b (the “Bond”). Its proceeds will finance the development of new EDGE-certified green building residential projects (60%) and refinance the current debt (40%) of existing green office buildings owned by the Company, as a Green Bond (the “Project”). IDEI is a Mexican property development company with a product offering ~90% focused on the residential segment with secondary exposure to income-generating commercial property. The Company has a solid track record with more than 13,000 houses and apartments sold, being the market leader in the vertical housing segment of Monterrey.                                                  

Overview of IFC's Scope of Review

 During the Environmental and Social (“E&S”) appraisal, IFC held virtual meetings with staff of IDEI in charge of human resources (HR), Head of Finance, Assistant Director Planning and Permits, Director of Construction, on May 26th, 2022. IFC also reviewed the procedures and programs for E&S management, the organizational capacity of IDEI for both operations and potential new projects/construction, and the relevant policies and procedures regarding contractor’s management, labor and working conditions; occupational health and safety, including life and fire safety (LFS); stakeholder engagement; and security management, in addition to permits and licenses, monitoring process and land acquisition.

The appraisal also included review of media reports, research documents and country fact sheets regarding employment, labor force practices, community unrest, health, safety, and security status in the areas where the company operations are located.  

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan