Company name
AGRIPAC S.A.
Project number
14169-01
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
08/10/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/17/2022
Approval date
10/14/2022
Signed date
11/16/2022
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 25,000,000
Currency
USD
Project scope and objective
The financing proposed to Agripac S.A. (“Agripac”) consists of a 3.3-year Revolving Line of Credit, with a committed tranche and an uncommitted tranche of up to US$15 million and US$10 million, respectively, under which IDB Invest shall increase financing for the term of 390 days with amortization at maturity in each case, which funds will be used to import raw materials from their eligible suppliers, to be sold and financed to their agricultural producers. The aim is to offer a committed working capital solution not available in the local market to set Agripac’s imports financing terms in line with its cash generation cycle. The overall goal of the project is to increase the availability of food in Latin America and the Caribbe, and agricultural exports by: (i) increasing the provision and financing of agricultural inputs for MSMEs; (ii) supporting the technical assistance to agricultural MSMEs; and (iii) supporting greater market linkages.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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(292) 623-3952.
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 TRADE FACILITY ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
235.5 Kb
AGRIPAC TRADE FACILITY ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb