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[China Co-Financing Fund] IDB administers 3 million USD loan to Durli Group subsidiaries in Paraguay for construction of a leather plant (linked to Record ID#85133)
| Funder | People's Bank of China (PBC) |
|---|---|
| Recipient Organization | Durli Leather S.A.|Veneza Inversiones PY. S.A. |
| Country | Paraguay |
| Start Date | Mar 06, 2018 |
| End Date | Oct 08, 2026 |
| Duration | 3,138 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85134 |
Grant Description
[China Co-Financing Fund] IDB administers 3 million USD loan to Durli Group subsidiaries in Paraguay for construction of a leather plant On March 6, 2018, IDB Invest (the private sector institution of the Inter-American Development Bank (IDB) Group, formerly Inter-American Investment Corporation, or IIC), signed a loan package with the Durli Group operation in Paraguay, which is made up of Durli Leather SA and Veneza Inversiones SA.
This loan package consisted of a 3 million USD loan from the China Co-Financing Fund for Latin America and the Caribbean (CHC), a 6 million USD loan from IDB Invest's own resources, and a 6 million USD loan from unspecified additional project partners.
The terms of the loan are unknown, though IDB Invest describes it as a "long-term loan." The IDB approval date for this loan financing was December 11, 2017, and it refers to this project with code 12100-03 and name "Durli Brazil." More specifically, the loan will be used by the borrowers for the construction of a leather treatment plant in Paraguarí, Paraguay, as well as partially financing working capital needs and refinancing liabilities.
A precise timeline of the plant's construction is unknown, but it appears environmental reviews were taking place in 2016, and the plant was completed and in operation by the end of 2018 at the latest. Starting in 2019, the plant fell under scrutiny for environmental contamination of Lake Ypoá and Caañabé Creek.
The Durli Group (Durlicouros Indústria e Comércio de Couros, Exportação e Importação Ltda.) is a Brazil-based leather manufacturer. However, Durli Leather SA is a Paraguayan company. The IDB also arranged financing to Durli Group's organization in Brazil, captured in the linked Record ID#85133.
The China Co-Financing Fund was established on 14 January 2013 with a contribution of 2 billion USD by the People's Bank of China, and it is administered by the IDB. For more information, see umbrella Record ID#86526
Sources & References
- Durli Brazil
- IDB Invest strengthens the leather industry in Brazil with financing to the Durli Group
- China's Financing in Latin America and the Carribean
- RELATORIO DE IMPACTO AMBIENTAL: PLANTA PROCESADORA DE PRODUCTOS Y SUBPRODUCTOS DE ORIGEN VACUNO VENEZA INVERSIONES PY. S.A
- Expedientes: Nro. DIA: 1633
- Durli Brazil
- Durli Brazil
- IDB Invest strengthens the leather industry in Brazil with financing to the Durli Group
- Linha do Tempo
- Onde Estamos
- Trabajadores cierran ruta por clausura de empresa curtiembre en Paraguarí
- Intervienen curtiembre instalada en Paraguarí Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Durli Leather S.A.|Veneza Inversiones PY. S.A.
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