Company name

Agrícola Ganadera Reysahiwal S.A.

Project number

EC1032B-01

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E&S category
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N/A

Country

Ecuador

Sector

Agribusiness

Status

In implementation

Disclosed date

10/26/2006

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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11/28/2006

Approval date

11/28/2006

Signed date

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Sponsoring entity

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Team leader

Levy, David

Investment type

Syndicated amount

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Financing amount

USD $ 4,500,000

Currency

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Project scope and objective

With the IIC loan, Agrícola Ganadera Reysahiwal S.A. (AGR) will improve its financial profile with long-term financing, making the company less vulnerable to changes in the financial market and in terms for accessing financing. The IIC’s loan will be used to refinance debt incurred to finance the construction of a plant in Sangolquí, built to meet the increasing demand for dairy products.


The IIC is providing needed financing for the orderly expansion of an existing company that is increasing its production capacity to satisfy the growing demand for the hygienic processing and distribution of basic dairy products that provide essential nutrients and are not always available in developing nations. The proposed operation will allow the company to continue to plan its growth and operate under more stable conditions.


Through this operation, the IIC will strengthen its support for project sponsors that are involved in several highly developmental activities that demonstrate their commitment to corporate social responsibility. These include (i) education and health-care services for children living in rural areas; (ii) scientific research on the rainforest; (iii) a forestry program that has earned SmartWood international certification; and (iv) the promotion of ecotourism.


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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

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COUNTRY OFFICES

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