NASE (IDBI-12444-01)

Countries
  • Mexico
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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
Feb 15, 2019
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
Negocio Agricola San Enrique, S.A. de C.V.
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)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jan 17, 2019


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Project Description

The financing will be used as working capital, mainly for the purchase of raw materials such as seeds, fertilizers, and for various agricultural works, as well as for purchasing inputs and financing works in the production of farmed shrimp (hereinafter “the Project”).

Investment Description
  • IDB Invest
Private Actors

Negocio Agrícola San Enrique, SA de C.V (“NASE”), located in the Northwest of Mexico, is a company with 25 years of experience in the horticultural sector, engaged in the production of organic and non-organic tomatoes, peppers, table grapes, nuts (pecan), strawberries, blackberries, and farmed shrimp, with a focus on the export market (90% of sales)

Contact Information

Jaime Enrique Lugo
Managing Directo
Email:
elugo@nase.com.mx
Telephone: (+52-662) 260-9762

ACCOUNTABILITY MECHANISM OF IADB

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).