Company name
Favorita Fruit Co. Ltd. y subsidiarias
Project number
14931-01
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
Ecuador
Sector
Agribusiness
Status
Proposed
Disclosed date
11/13/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/13/2024
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
División de Corporativos
Investment type
Syndicated amount
N/A
Financing amount
USD $ 35,000,000
Currency
USD
Project scope and objective
La transacción propuesta a Favorita Fruit Co. Ltd. y sus subsidiarias (“Favorita” o “la Compañía”) consiste en un préstamo senior de hasta US$35 millones para financiar lo siguiente: (i) un plan de inversiones en bioseguridad para prevenir la enfermedad Fusarium Raza 4 Tropical (“R4T”) y fortalecer la adaptación climática, siendo la R4T una de las enfermedades más devastadoras del banano, y así sostener la producción, exportación y empleo del país; y (ii) un plan logístico para incrementar las capacidades y eficiencias en las instalaciones portuarias de la Compañía para servir a industrias claves como alimentos, fertilizantes y otros sectores industriales.
Desde hace más de 45 años, la Compañía ha venido impulsando líneas claves de negocio en el mercado nacional e internacional a través de la producción, industrialización y comercialización de productos y servicios con los más altos estándares de calidad, siendo los principales bananos, insumos agrícolas, fertilizantes, productores forestales, servicios portuarios, entre otros.
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Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
institucional@favoritafc.com
PHONE NUMBER
+011 4370-6900
POST OFFICE ADDRESS
Av. San Juan Bosco y Calle N (via al Puerto Marítimo), Guayaquil
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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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.
FAVORITA FRUIT - RESUMEN DE LA REVISIÓN AMBIENTAL Y SOCIAL (RRAS)
460.8 Kb
FAVORITA FRUIT - PLAN DE ACCIÓN AMBIENTAL Y SOCIAL (PAAS)
174.1 Kb