Company name
Agroindustrias San Jacinto S.A.A.
Project number
PE1089A-02
N/A
E&S category
N/A
Country
Peru
Sector
Agribusiness
Status
Completed
Disclosed date
12/07/2006
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/16/2007
Approval date
02/06/2007
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
INO Portfolio Management (PTM)
Investment type
Syndicated amount
USD $ 3,000,000
Financing amount
N/A
Currency
USD
Project scope and objective
The project consists of extending an "A" Loan of US$4.0 million and a "B" Loan of US$4.5 million for eight years, with a one-year grace period, to finance the investment program of Agroindustrias San Jacinto and term out the short-term debt the company incurred to finance infrastructure investments, increase and diversify its sources of water, and generate its own power. The company has been investing in ways to take and use water from the Chinecas channel, drilling twenty-five new irrigation wells, building the Motocachi reservoir (capacity: 5.5 million cubic meters), and purchasing farm machinery. It has also built repumping stations, a cooling water well for the factory, and recreational facilities for the its workers, and has carried out wellness campaigns for the residents of the village of San Jacinto. These investments have given Agroindustrias San Jacinto access to diversified sources of water, minimized its risk in times of drought, stabilized the sugar content obtained from the harvests, and provided a cushion against fluctuations in oil and gas prices.
With this loan, the IIC will be contributing to Agroindustrias San Jacinto’s financial stability and helping protect the jobs the company generates and the significant social impact it has on the village of San Jacinto and the surrounding areas. Agroindustrias San Jacinto is the main employer in the area and makes a notable contribution to the social development of the local community and other villages nearby. Its activities include providing education, professional and technical training, scholarships for students, wellness campaigns, family recreation programs, and the restoration of archaeological monuments in the San Jacinto area. The company has set up a good corporate governance committee to improve communication among its affiliates, and its reforestation and environmental protection programs have a positive environmental impact.
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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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