Company name
Agripac S.A.
Project number
12493-02
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Ecuador
Sector
Agribusiness
Status
In implementation
Disclosed date
09/16/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/25/2021
Approval date
10/25/2021
Signed date
11/23/2021
Sponsoring entity
Agripac S.A.
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 400,000
Financing amount
USD $ 16,000,000
Currency
USD
Project scope and objective
The proposed financing consists of a senior loan for up to US$16 million and a maximum term of 8 years, including 18 months of grace period, secured by mortgage and pledge on fixed assets. The transaction will also feature performance-based incentives and advisory services from We-Fi to support Agripac grow its client base for women-led or women-owned SMEs ("Women SME").
The funds will be used to incorporate a new animal feed production line, to be used in two of the divisions with the highest growth projection for Agripac, which are pet food and shrimp, in addition to the 2021 investment plan, which includes the updating of machinery, robotization of industrial processes, improvements in fire prevention, new warehouses, among others. Through this transaction, IDB Invest seeks to strengthen the value chain and industrialization of agricultural production in Ecuador.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
fluna@agripac.com.ec
PHONE NUMBER
(593) 4 - 3703870
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
AGRIPAC - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
102.4 Kb
AGRIPAC - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
61.4 Kb