Early Warning System

Countries

Costa Rica
Dominican Republic
El Salvador
Guatemala
Honduras
Spain

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

IDB Invest (IDBI)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Nov 27, 2018

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Various companies within CMI's food division ("CMI Alimentos")

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Agriculture and Forestry
Industry and Trade

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 100.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 100.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Media Documents

Campaign Documents

BHRRC page of CMI

Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 27, 2018

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank, the proposed transaction consists of a syndicated loan led by IDB Invest. The Loan will be used: (i) to finance fixed investments of 16 companies of CMI Alimentos located in Guatemala, El Salvador, Honduras, Costa Rica and Dominican Republic, to continue expanding their operations, improving their productivity levels, renew fixed assets and carry out environmental projects, and (ii) to finance the purchase of 50% of the shares of Procesadora Nacional de Alimentos CA (Pronaca) in Ecuador, to support the inorganic expansion of CMI Alimentos (the "Project").

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

IDB Invest (IDBI)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

CMI Alimentos is the main business division of Corporacion Multi Inversiones ("CMI"), one of the most important economic groups in Central America with operations in 9 countries. The economic activities of CMI Alimentos include the production of chicken, pork and derived products (Industria Pecuaria), the production of wheat flour, corn, pasta and cookies (Molinos Modernos), and the operation of fast food restaurants (Restaurantes de Centroamerica).

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Corporacion Multi-Inversiones	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For Project inquiries, please contact:
Client's contact name: Hector Tellez o Cecilia Contreras
Position: Corporate Treasurers
Telephone: (+502) 2423-4000
E-mail:
htellez@cmi.co
or
ccontreras@cmi.co

For inquiries and comments to IDB Invest, please contact: IDB Invest Communications Group. E-mail: divulgacionpublica@iadb.org

For Project inquiries, including questions on environmental and social issues related to IDB Invest investments, please contact the Client or IDB Invest using the contact information provided above.

As a last resort, communities affected by the Project have access to IDB Invest's Independent Consultation and Investigation Mechanism (http://www.iic.org/en/who-we-are/integrity-and-transparency).

Tel: +1 (202) 623-3952

Fax: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. United States of America. 20577

E-mail: mecanismo@iadb.org or MICI@iadb.org