PROLADE (IDBI-12854-02)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Specific Location
Huimanguillo, Teapa (Tabasco Region)
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
A
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
Sep 29, 2023
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
Prolade SAPI de CV
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.
Loan Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Corporate Actor Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jun 28, 2023

Disclosed by Bank Jun 13, 2023

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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.

Original disclosure:

BID Invest esta contemplando realizar un financiamiento por hasta US$15 millones a 10 anos en Prolade SAPI de CV. Prolade es una empresa establecida en el ano 2013 en los municipios de Huimanguillo y Teapa, en la region de Tabasco, dedicada a la produccion sostenible de aceite de palma. La Empresa cuenta con una operacion verticalmente integrada y a la fecha posee 3,130 hectareas cosechadas y una planta extractora de aceite. El financiamiento de BID Invest sera utilizado para: (i) adquisicion de tierra, (ii) compra de activos biologicos, (iii) instalacion de un sistema de riego y (iv) la expansion de la planta extractora de aceite.

Translated with DeepL:

IDB Invest is contemplating a 10-year financing of up to US$15 million for Prolade SAPI de CV. Prolade is a company established in 2013 in the municipalities of Huimanguillo and Teapa, in the Tabasco region, dedicated to the sustainable production of palm oil. The company has a vertically integrated operation and to date has 3,130 hectares harvested and an oil extraction plant. The IDB Invest financing will be used for: (i) land acquisition, (ii) purchase of biological assets, (iii) installation of an irrigation system and (iv) expansion of the oil extraction plant.

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.

As stated on the company's website, Prolade is a Mexican palm oil enterprise located in the Huimanguillo municipality in the Tabasco region.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Prolade SAPI de CV Client Agriculture and Forestry

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.

IDB Invest Team Leader:

Carlos Eduardo Narvaez
Email: requestinformation@idbinvest.org
Phone: +1(202)-566-4566
Address: 1350 New York Ave NW, Washington, DC 20005

Client - Prolade SAPI de CV:

Marcos Lucas Deecke - Director
Phone: +52 993 278 5268
Email: mlucas@prolade.com
Website: https://prolade.com/
Address: Carr. Tierra Nueva - Fco. Rueda Km. 36, Col. Jose Maria Pino Suarez 1ra., Secc. 86444 Huimanguillo, Tabasco, Mexico

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

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).

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