Dos Pinos (IDBI-12755-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Costa Rica
  • Dominican Republic
  • Guatemala
  • Panama
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
Hold
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Jun 25, 2021
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
Leche Dos Pinos; Helados de Centroamerica; Productos Nevada; Claus Holding; Atlantic Holdings
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
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)
$ 25.00 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.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jun 19, 2021

Disclosed by Bank Aug 11, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.
<div class="block"><br /><br /><br /> <div class="intro-frame block-wysiwyg"><br /><br /> <div>The proposed financing consists of a short-term revolving credit facility for up to US$25 million to be granted to Cooperativa de Productores de Leche Dos Pinos, R.L., located in Costa Rica, and its main subsidiaries in Guatemala, Panama, and the Dominican Republic ("Dos Pinos" or the "Company"). Dos Pinos will use the funds from IDB Invest to support its short-term liquidity given the current COVID-19 pandemic and its growing working capital needs due to the Company's recent expansions in the region, which support food security with an inclusive and sustainable business model (the "Project").</div> </div> </div>
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

This is a category B project under the IDB Invest Environmental and Social Sustainability Policy, given that it could have moderate and mitigable environmental and social impacts. The main issues associated with the Project include: (i) functionality of the environmental and social management and monitoring systems, (ii) food safety and security; (iii) prevention of chronic renal insufficiency; (iv) wastewater, solid waste, energy consumption, and air emissions management and control; (v) community relations; (vi) supply chain sustainability; and (vii) labor management and suitable working conditions.

IDB Invest performed the environmental and social due diligence for the Project between August 12th and 14th, 2019. The dairy and food concentrate plants in Coyol, the chocolate plant in Gallito, and the beverage plant in Belen were visited, as were two suppliers, one in Alajuela and the other in Guanacaste. Additionally, environmental information--procedures, policies, reports, audits, licenses, and other internal documents of Dos Pinos--was reviewed and personnel from the cooperative's plants and suppliers were interviewed.

Resulting from the Environmental and Social Due Diligence, it was concluded that the impacts of this operation will be managed according to the International Finance Corporation's (IFC) Performance Standards (PS) and Environmental, Health and Safety Guidelines for Dairy Processing, Livestock Production, and Food and Beverage Processing. The PS' that apply to this operation are: The PS that apply to this operation are: PS 1: Assessment and Management of Environmental and Social Risks and Impacts; PS 2: Labor and Working Conditions; PS 3: Resource Efficiency and Pollution Prevention; PS 4: Community Health, Safety and Security.

Should any other PS be applicable, Dos Pinos will immediately inform IDB Invest.

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

Cooperativa de Productores de Leche Dos Pinos R.L. is located in Alajuela, Costa Rica and is part of the Dairy Products Manufacturing Industry. Cooperativa de Productores de Leche Dos Pinos R.L. has 4,635 employees across all of its locations. There are 2 companies in the Cooperativa de Productores de Leche Dos Pinos R.L. corporate family.

Dun & Bradstreet provides data on over 120 million companies like Cooperativa de Productores de Leche Dos Pinos R.L. around the world, including contacts, financials, and competitor information. To witness the full depth and breadth of our data and for industry leading sales intelligence tools, take D&B Hoovers for a test drive today.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Atlantic Holdings Limited, S.R.L. Subsidiary -
- - - - Claus Holding, Corp. Subsidiary -
- - - - Cooperativa de Productores de Leche Dos Pinos R.L. (CR) Buyer -
- - - - Helados de Centroamérica S.A. (GT) Subsidiary -
- - - - Productos Nevada, S de R.L. Subsidiary -

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 inquiries about the Project please contact Dos Pinos:

Name:                                  Karina Castro

Title:                                     Gerente Financiero

Phone number:                  +506 2437 3000

E-mail:                                  kcastro@dospinos.com   

 

For questions and comments to IDB Invest please contact:

Name:                                  Grupo de Comunicación de BID Invest

E-mail:                                  requestinformation@idbinvest.org

 

Additionally, affected communities can access the IIC’s Independent Consultation and Investigation Mechanism (ICIM) as follows:

Phone number:                  +1 (202) 623-3952

Fax number:                      +1 (202) 312-4057

Address:                              1300 New York Ave. NW Washington, DC. USA. 20577

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

How it works

How it works