Company name
Molino Cañuelas S.A.C.I.F.I.A. and Molinos Florencia S.A. as borrowers; Molca S.A. and Compañía Argentina de Granos S.A. as guarantors
Project number
AR3642A-02
N/A
E&S category
N/A
Country
Argentina
Sector
Agribusiness
Status
Inactive
Disclosed date
08/06/2009
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/08/2009
Approval date
11/17/2009
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
N/A
Project scope and objective
Molino Cañuelas is an Argentinian company specializing in milling wheat into flour and producing food products (mainly pasta, crackers, and cookies). The company also grinds oilseeds (sunflower seeds and soybeans) to produce oils, including the refining, fractioning, and bottling stages. Molino Cañuelas is one of the principal flour producers in Argentina and is the largest exporter.
The purpose of this second IIC loan to the company is to finance permanent operating fund requirements and replace short- and medium-term liabilities with long-term liabilities, in accordance with the company’s needs. The IIC will syndicate part of the loan to attract other banks to finance Molino Cañuelas on the same terms. Financing from the IIC will strengthen the company and support its development.
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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
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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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