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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
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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
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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.

 

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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.

AGRIPAC TRADE FACILITY ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

235.5 Kb

AGRIPAC TRADE FACILITY ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

112.6 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

fluna@agripac.com.ec

PHONE NUMBER

+593 43703870

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .