Agripac III (IDBI-12493-01)

Countries
  • Ecuador
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
Jan 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
Agripac S.A
The holder of the loan, grant, or other investment.
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, 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.
Project Cost (USD)
$ 20.00 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 Dec 4, 2018


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Project Description

According to the bank, IDB Invest's operation consists of a loan in favor of Agripac S.A. ("Agripac" or "The Company") for up to US$20 million with an eight-year term and guarantee on the land and industrial balanced feed and pet food facilities. The funds from the loan will be used to finance: (i) a new line of pet food and a palletizing and bagging robot for balanced shrimp feed; (ii) acquisition of land for logistical improvements in the sale and storage of finished products; (iii) construction of corn storage silos and warehouses for soybean paste storage; (iv) expansion to new points of sale in Ecuador; and (v) implementation of SAP Logistics aligned with Agripac's digitalization strategy.

Investment Description
  • IDB Invest
Private Actors
Contact Information

Dr. Alfredo Noboa
Industrial Safety Manager
Agripac S.A.

anoboa@agripac.com.ec
General Cordova No. 623 and Padre Solano,
Guayaquil - Ecuador

Eng. Dennys Gonzalez
SGI Corporate Coordinator
Agripac S.A.

dgonzalez@agripac.com.ec
Tel. 3703870 Ext.6245
Cell phone 0997048369

For project inquiries, including environmental and social issues related to an IDB Invest transaction, please contact the client (see Investment Summary sheet), or IDB Invest via email divulgacionpublica@iadb.org.

As a last resort, affected communities have access to IDB Invest's Independent Consultation and Investigation Mechanism using the following email address mecanismo@iadb.org or MICI@iadb.org, or by calling the telephone number +1(202) 623-3952.