Parques Logísticos Effitek S.A. will receive a 48-million dollars financial package structured by IDB Invest aimed at completing the construction of the Itulpark Logistics Park located in Quito, being the first AAA-class sustainable logistic park in Ecuador.

The financial package includes a 16.9-million dollars loan granted by IDB Invest, accompanied by private resources mobilization summing up 31.1 million dollars, distributed between the private capital fund ILX Fund (16.9 million dollars) and Banco Guayaquil (14.2 million dollars).

The project is expected to be concluded by the beginning of year 2025, consisting of four new sustainable warehouse buildings that will incorporate photovoltaic solar energy to improve the efficiency and competitiveness of the logistics park.

IDB Invest will support Itulpark through its climate advisory services in order to achieve the EDGE Buildings certification in the “Advanced” category. To achieve this, the four warehouses must achieve at least 40% energy savings compared to the established baseline, plus 20% savings in water usage. Itulpark has also committed to implementing an environmental and social action plan.