Original disclosure @ IDBI website
Updated in EWS Oct 19, 2022
Disclosed by Bank Aug 10, 2022
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The financing proposed to Agripac S.A. ("Agripac") consists of a 3.3-year Revolving Line of Credit, with a committed tranche and an uncommitted tranche of up to US$15 million and US$10 million, respectively, under which IDB Invest shall increase financing for the term of 390 days with amortization at maturity in each case, which funds will be used to import raw materials from their eligible suppliers, to be sold and financed to their agricultural producers. The aim is to offer a committed working capital solution not available in the local market to set Agripac's imports financing terms in line with its cash generation cycle. The overall goal of the project is to increase the availability of food in Latin America and the Caribbe, and agricultural exports by: (i) increasing the provision and financing of agricultural inputs for MSMEs; (ii) supporting the technical assistance to agricultural MSMEs; and (iii) supporting greater market linkages.
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
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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).