Company name

Sigma Alimentos, S.A. de C.V.

Project number

12886-01

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
tooltip

B

Country

Regional

Sector

Agribusiness

Status

In implementation

Disclosed date

11/12/2019

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
tooltip

12/13/2019

Approval date

12/13/2019

Signed date

05/20/2020

Sponsoring entity

N/A

Team leader

Aguirre Hernandez, Alma Iliana

Investment type

Syndicated amount

N/A

Financing amount

USD $ 50,000,000

Currency

USD

Project scope and objective

The transaction consists of a revolving, uncommitted discount facility of up to US$50 million for IDB Invest's purchase from E-Factor (which acts as a financial intermediary) of accounts payable (credit rights) denominated in dollars (US$) or Mexican pesos (MXN) that fullfill certain eligibility criteria and  that are confirmed by subsidiaries of Sigma Alimenots S.A. de C.V. ("Sigma" or "the Company") in the Dominican Republic, Costa Rica, Ecuador, Peru, Guatemala, Nicaragua, Honduras, El Salvador, and Mexico. The credit rights will be evidenced by invoices arising from the sale of goods or the provision of services by Sigma suppliers.



This transaction seeks to support Sigma’s supplier base in countries in Latin America and the Caribbean that lack supplier finance programs for the purchase of accounts payable to suppliers, including Small and Medium Enterprises (SMEs). The instrument will allow to incorporate suppliers into Sigma's value chain, giving them access to efficient commercial financing under competitive conditions (costs, terms, etc.) in countries such as, first, the Dominican Republic, Costa Rica, Ecuador and Peru, and then Guatemala, Nicaragua, Honduras and El Salvador, as these are countries where companies often struggle to finance their working capital. This transaction is in line with Sigma’s responsible supply strategy, which focuses on fostering the growth of its suppliers and mitigating its businesses’ risk factors, including supplier development programs that incorporate training and advisory.


For inquiries, comments and information requests about the project

Request information

Learn 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

68.9 Kb

Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

SIGMA ALIMENTOS-ENVIRONMENTAL AND SOCIAL ACTION PLAN 0.PDF

84.8 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices