Company name
Hortícola Cimarrón S.A. de C.V.
Project number
11599-01
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
Mexico
Sector
Agribusiness
Status
Completed
Disclosed date
06/27/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/27/2017
Approval date
11/08/2017
Signed date
12/19/2017
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 12,000,000
Currency
USD
Project scope and objective
The operation consists of a 7-year loan for up to US$12 million corresponding to 69% of the total value of the construction of a new module of 20 hectares of greenhouses for hydroponic vegetable cultivation and for the working capital required for its operation. The loan will be guaranteed by: (i) mortgage on the land on which the new greenhouses are built; (ii) pledge on new greenhouses; and (iii) guarantee provided by the Canadian Export Development Agency (EDC) for up to 85% of the value of the project to be financed.
The main reason for this type of guarantee is that the technology of the greenhouse comes from Canada, the supplier being the company Les Serres Harnois (http://www.harnois.com/), who has already installed other modules for Cimarrón.
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) - CIMARRON
108.4 Kb
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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(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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
49.1 Kb