📋 Tender Overview
Project Number
45029
Company Name
CONTROLADORA MABE, S.A. DE C.V.
Date ESRS Disclosed
Feb 13, 2025
Country
Mexico
Region
Latin America and the Caribbean
Last Updated Date
Environmental Category
B
Status
Pending Signing
Previous Events
Approved : Sep 21, 2010
Sector
Household Appliances (Including Refrigerators, Laundry Machine, Dishwashers, etc.)
Industry
Manufacturing
Department
Gbl Ind, Manufact, Agribus & Services
Project Description
This project is proposed under the Global Trade Supplier Finance program ( GTSF or the Program ) approved by the IFC Board on September 21, 2010 (Original Project #28723) and an additional increase approved on December 15, 2022. Under GTSF, IFC provides short-term financing to suppliers ( Suppliers ) in emerging markets selling to large companies ( Buyers ) on open account terms. Under this project, IFC will provide financing to emerging markets suppliers of Controladora Mabe S.A. de C.V. Mabe is a leading global manufacturer and distributor of home appliances headquartered in Mexico City, Mexico. The proposed supply chain finance facility (‘the project ) within the GTSF is expected to be US$50 million.
Under the Project, IFC will discount invoices owed by Mabe to its primary suppliers on the E-Factor Network platform ( EFN ), currently a portfolio client through an IFC equity investment. EFN is an independent Mexican supply chain finance platform with experience in the electronic factoring business. At invoice maturity, IFC will receive payment of the full invoice value from Mabe via the EFN platform.
Eligible suppliers will include only those rated green or yellow under Mabe's E&S criteria. Suppliers where at least one critical non-conformity is identified (red flags), will not be eligible to receive financing under this facility.
Overview of IFC's Scope of Review
In order to be eligible under the GTSF project structure, IFC expects Buyers (in this case, Mabe) to have mature E&S / Supply Chain management systems and risk screening processes consistent with IFC's Performance Standards at appraisal, for the effective implementation of supply chain related requirements (ref. PS2 as it related to child labor, forced labor, significant safety risks). The scope of IFC's E&S review, therefore, focuses on the Buyers' supply-chain-related management systems, sustainability requirements and procurement practices in alignment with PS1 implementation with their Suppliers. IFC's E&S due diligence involved desk review of E&S documentation and information provided, including Mabe's supply chain risk management policies and procedures, including:
Mabe's Integrity Guide for suppliers (SRG)
Sustainability report 2022
Direct Suppliers Ethics and Integrity Policy and Guide
Sustainability Supplier Responsibility Guidelines
Mabe's SRG audit template
