Habi is a privately owned company with operations in Colombia and Mexico. Habi’s holding company, MCN Investments, Ltd, the intended recipient of IFC’s investment, is incorporated in the Cayman Islands. Current major shareholders include Softbank, Inspired Capital and co-founders Brynne McNulty Rojas & Sebastian Noguera Escallon.                                         

 The proposed IFC investment is a US$20 million loan for IFC’s own account.                                                

Latin America and the Caribbean (“LAC”).                                                 

 This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability. The environmental and social risks and impacts associated with this project are limited, site-specific and can be readily addressed through generally accepted mitigation measures as described in this document and the attached Environmental and Social Action Plan (ESAP).

Key environmental and social (E&S) risks and issues include: (i) Effective implementation of  IFC PS requirements/ESHS standards; (ii) company’s organizational capacity to assess and manage ESHS risks; (iii) labor and working conditions, including grievance mechanism and child labor (iv) contractor ESHS management; (v) occupational health and safety (OHS) management, life and fire safety (LFS) and emergency preparedness and response; (vi) pollution prevention and waste management; (vii) community health and safety; and (viii), company's stakeholder engagement activities related to management of E&S aspects and its grievance mechanism.