Company name
Almacenadora Mercader, S.A. de C.V. ("ALMER")
Project number
ME3453A-04
N/A
E&S category
N/A
Country
Mexico
Sector
Agribusiness
Status
In implementation
Disclosed date
06/30/2011
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/02/2011
Approval date
10/25/2011
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 5,000,000
Currency
MXN
Project scope and objective
ALMER is a bonded warehouse (Almacén General de Depósito) subject to oversight by the Comisión Nacional Bancaria y de Valores (CNBV). ALMER was established in July 1998 when the three warehouses composing the state-owned company Almacenes Nacionales de Depósito (ANDSA) were privatized. ALMER is the largest bonded warehouse operator in Mexico. It serves 21 states, operating 14 warehouse complexes directly in 8 states and 325 smaller ones under license in 13 states. ALMER also has a railroad grain terminal and other transportation infrastructure.
The proposed operation is to renew financing for the existing program for the storage and/or purchase of grain, mainly white corn (as well as wheat and sorghum) from approximately 750 small farmers. As part of the project, ALMER will continue to use the IIC loan to provide financing to small producers by either purchasing their goods with an option to repurchase (repos) or storing them until they are sold. In both cases ALMER will issue warehouse receipts, which will secure the IIC's loan. This will be the IIC’s first loan to ALMER in Mexican pesos.
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Contact information
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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(202) 623-3952.
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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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