Gandules Inc. S.A.C. (IIC-12056-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Peru
Where the impacts of the investment may be experienced.
Specific Location
Lambayeque y la Libertad
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 23, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Gandules Inc. S.A.C.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Oct 15, 2018

Disclosed by Bank Sep 21, 2017


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Project Description

The proposed operation consists of a senior loan to Gandules, which includes two tranches: (i) Commitment Tranche of up to US$15 million for:

(a) US$8.0 million for investments in industrial fixed assets to automate processes, improve quality and increase capacity

(b) US$1.0 million for investments in water wells to increase the water resources, and

(c) US$6.0 million for refinancing of financial debt; (ii) Non-Committed Tranche for up to US$5.0 million for investments acceptable to the IIC in fixed assets or expansion of agricultural frontier (jointly (i) and (ii) "Project").

Investment Description
  • IDB Invest
Contact Information

Mr. Jose Luis Benites
Gerente General,Gandules
Telephone No.: +51 979799348
Email Address: jbenites@gandules.com.pe

Mr Augusto Varas
Corporate Human Resources Manager, Gandules
Telephone No.: +51 982015428
Email Address: avaras@misticorp.pe

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).