Company name
Tecnomyl S.A.
Project number
PR4026A-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
Paraguay
Sector
Agribusiness
Status
Completed
Disclosed date
04/14/2014
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/20/2014
Approval date
10/23/2014
Signed date
12/04/2014
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 3,000,000
Currency
USD
Project scope and objective
The Inter-American Investment Corporation (IIC) has approved a loan of up to US$3 million to Tecnomyl S.A. in Paraguay to fund the expansion, improvement, and modernization of its industrial plant in order to increase production while maintaining high quality, not only for domestic sales but also for sales to new markets such as Brazil, Colombia, and Mexico.
The IIC loan to Tecnomyl will partly finance a number of investments in expansion of and improvements to its plant, such as: (i) laboratory: quality control; research and development; (ii) expansion of the flowable products plant, and (iii) storage for finished products.
Tecnomyl (www.tecnomyl.com.py) is the largest producer of agrochemical products (pesticides, fungicides, and herbicides) in Paraguay. It is the only local producer that holds ISO 9001 (quality) and 14001 (environmental) certifications, as well as the only one with a modern laboratory equipped with the technology to perform quality control on both the raw materials and its finished products. The laboratory is also capable of performing research and development to create new products for boosting farmer productivity and profits.
The IIC loan will enable the company to make these investments, which are so important for expanding its domestic production and ensuring high quality for gaining entry to new markets, including Brazil, Colombia, and Mexico.
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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 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(292) 623-3952.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
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