The proposed financing consists of a senior loan for up to US $ 16 million and a maximum term of 8 years, including 18 months of grace, guaranteed by mortgage and pledge on fixed assets. The transaction will also feature performance-based incentives and advisory services from We-Fi to help Agripac grow its client base for women-led or women-owned SMEs ("PYME Mujer").
The funds will be used to incorporate a new balanced production line, to be used in two of the divisions with the greatest growth projection for Agripac, which are pet food and shrimp, in addition to the 2021 investment plan, which includes the updating of machinery, robotization of industrial processes, improvements in fire prevention, new storage warehouses, among others. Through this transaction, IDB Invest seeks to strengthen the value chain and industrialization of agricultural production in Ecuador.
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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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 (IDB Invest)-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 IDB Invest 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).