Company name
Produce Pay Inc.
Project number
13082-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
País
Regional
Sector
Agribusiness
Estado
In implementation
Disclosed date
02/26/2021
N/A
Projected board date
04/27/2021
Approval date
04/27/2021
Signed date
05/03/2021
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 8,000,000
Currency
USD
Project scope and objective
BID Invest está considerando una inversión de hasta US$8 millones en Produce Pay Inc. (la “Empresa”). La Empresa desarrolla, gestiona y opera una plataforma de tecnología financiera agropecuaria propia que les brinda a los productores de frutas y verduras financiamiento, un lugar en el mercado e inteligencia de mercado. El modelo de negocios innovador y disruptivo facilita el acceso al financiamiento de capital de trabajo mayormente para agricultores pequeños y medianos de América Latina que exportan su producción a Estados Unidos, mientras que los servicios de mercado e información de mercado los ayudan a crear oportunidades de negocios en condiciones comerciales justas y transparentes.
La Empresa utilizará los fondos de la nueva ronda de capital para optimizar su capacidad operativa y plataforma virtual a fin de expandir aún más sus operaciones en América Latina. A medida que la Empresa crezca, espera tener un impacto positivo en los agricultores para permitirles ampliar sus negocios.
El impacto de este proyecto fue destacado en nuestro Reporte Anual 2021.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
ben@producepay.com
PHONE NUMBER
+1-424-377-4712
POST OFFICE ADDRESS
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 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 ou MICI@iadb.org or calling +1(292) 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
PRODUCEPAY - RESUMEN DE LA REVISIÓN AMBIENTAL Y SOCIAL (ESRS - PAAS) FEB
153.6 Kb