Mavesa is a private company ultimately majority owned by President Kleber Macleri Vaca, with a 98.8% shareholding interest, and his family.                                                                               

 Total Project Cost stands at US$50 million and IFC’s investment consists of a financial package including a: (i) an A-Loan for an amount of up to US$30 million for IFC’s own account and; (ii) a “B2” loan for an amount of up to US$20 million for the account of participants under the Managed Co-Lending Portfolio Program (“MCPP”) . The financing will be disbursed in a bankruptcy-remote trust which will purchase a portion of Mavesa’s loan portfolio.

 Mavesa is headquartered in Guayaquil, Ecuador, and has regional presence in 12 cities in the country. The Project is located in Ecuador.                                                                                         

This is a category B project according to IFC’s Policy on Environmental and Social Sustainability. Key E&S issues and risks associated with the project are expected to include: (i) company’s resources and capacity to implement an environment, health, safety, and social management system (ESMS), in line with IFC PS requirements, including adequate E&S risk and impact assessment, at corporate and asset level, (ii) labor conditions and workers’ grievance management, (iii) supply chain management, (iv) occupational health and safety (OHS) management, including contractors’ management, (v) gender-based violence and harassment (GBVH), (vi) waste and effluent management, including Greenhouse Gas (GHGs) emissions (vii) resource efficiency, and (viii) stakeholder engagement and external grievance management.