The proposed transaction consists of a secured, revolving, non-committed line of credit with a 3 year tenor, for up to US$9 million, under which IDB Invest would make disbursements in up to 240 days to import agricultural machinery and/or supplies for Main International Trading Company S.R.L’s (“Mainter” or the “Company”) “Elegible Vendor(s),” which will be sold and/or financed out to agricultural producers.
The Project seeks to offer a working capital solution that is currently unavailable in the Bolivian market, which will allow Mainter to finance the imports of agricultural machinery and/or supplies, continue with its growth plan and pass the economic benefits of the Facility to its small and mid-sized agricultural producer clients. This would be the first transaction of IDB Invest with Mainter, and with Grupo Landicorp, and its first intervention in the agribusiness sector in Bolivia in the last few years.
This transaction has been classified as Category B, as per IDB Invest's Environmental and Social Sustainabilitu Policy, as it may generate impacts and risks associates with the following aspects: (i) operation of E&S management and monitoring systems, (ii) workforce management and provision of adequate working conditions, OHS programs; (iii) fire safety; (iv) monitoring and management of agrochemical handling; (v) relation with the community; and (vi) sustainability of the suply chain.
BID Invest performed the virtual Environmental and Social Due Diligence (ESDD) of the Project from July 21 through 24, 2020. E&S, Occupational Health and Safety (OHS), and labor information was reviewed in the form of Mainter's procedures, policies, reports, audits, licenses and other internal documents, and meetings were held with Company personnel.
The Company will be required to ensure the Project meets the requirements of IDB Invest's Sustainability Policy and address any identified gaps in the form of an action plan.
Based on the information received and reviewed to date, the following Performance Standards (PS) would be activated by the Project: 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; and PS 4; Community Health, Safety, and Security. The Project-related PSs will be finally determined after the ESDD is completed.
For project inquiries, please contact Mainter:
Name: Javier Urey Higazy
Title: General Manager
Telephone number: +591 (3) 338-8100
E-mail address: firstname.lastname@example.org
For inquiries and comments for IDB Invest, please contact:
Name: IDB Invest Communications Group
E-mail address: email@example.com
In addition, affected communities have access to the IIC Independent Consultation and Investigation Mechanism via:
Telephone number: +1 (202) 623-3952
Fax number: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail address: firstname.lastname@example.org or MICI@iadb.org