Original disclosure @ IDBI website
Updated in EWS Apr 27, 2023
Disclosed by Bank Oct 28, 2022
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The proposed finance facility is an US$11 million 8-year senior loan to Veneza Inversiones S.A., to finance a rendering plant with the capacity to process up to 440 tons per day of animal by-products extracted from beef tallow, bone meal, meat meal and blood.
Veneza Inversiones PY S.A. began operating in the agribusiness sector in August 2016 and can process and sell various products in Paraguay. It belongs to the Durli Group, one of the largest leather producers in Brazil, whose business includes producing and selling leather and processing third-party leather.
ADDENDUM: On January 31, 2023 a correction has been made to section 4.2.b (pag.7) of the ESRS. The corrected information is as follows: "Paraguay is a signatory to several International Labor Organization ("ILO") conventions. In 2009, the Government of Paraguay, together with organizations from the labor sector, the employer sector and the ILO, signed a Tripartite Agreement called the National Program for Decent Work, which establishes, among other issues, the eradication of forced and child labor in the country".
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