Company name
Molino Cañuelas S.A.C.I.F.I.A. and Molinos Florencia S.A.
Project number
AR3642A-01
N/A
E&S category
N/A
Country
Argentina
Sector
Manufacturing
Status
In implementation
Disclosed date
08/11/2006
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/12/2006
Approval date
09/19/2006
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 35,000,000
Currency
USD
Project scope and objective
Molino Cañuelas is an Argentinean company specializing in milling wheat into flour and producing food products (mainly pastas, 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 IIC's financing will strengthen the company, support its development, and assure that it continues to function as a key element of a supply chain involving over 7,000 small and medium-size enterprises. This will be achieved by replacing short- and medium-term liabilities with a long-term loan, based on the company's needs. The IIC will syndicate part of the loan to attract other banks to finance Molino Cañuelas on the same terms.
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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 OfficesFor inquiries, comments and information requests about the project
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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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