NASE: Promoviendo el crecimiento y la productividad de manera sostenible (IDBI-15047-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Specific Location
Sonora
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
Approved
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
Dec 13, 2024
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
Negocio Agricola San Enrique S.A. de C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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)
$ 30.00 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.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jan 21, 2025

Disclosed by Bank Oct 17, 2024

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.

Project description translated with DeepL.com:

The proposed financing to Negocio Agricola San Enrique S.A. de C.V. (“NASE” or the “Company”), a leading agricultural and aquaculture producer in Sonora, Mexico, consists of a senior secured financing of up to US$30 million, which will be comprised of: (i) a US$10 million 8-year term loan, including a 12-month grace period, and (ii) a revolving loan of up to US$20 million with disbursements of up to 390 days and a commitment period of up to 2.5 years, which may be renewable at IDB Invest's discretion. The proceeds of the Loan will be used to finance investments and working capital needs of the Company to support its growth and productivity, in a generally sustainable manner.

The development objectives of the Project are to: (i) increase production and productivity in the primary agriculture and aquaculture sector; and (ii) foster export growth, domestic supply chain and employment. In doing so, the project will also contribute to improving food security in the region, particularly through the dimensions of food availability and stability.

Original from the IDB Ivest project disclosure page:

El financiamiento propuesto a Negocio Agricola San Enrique S.A. de C.V. ("NASE" o la "Compania"), uno de los principales productores agricolas y acuicolas de Sonora, Mexico, consiste en un financiamiento senior garantizado de hasta US$30 millones, que estara compuesto por: (i) un prestamo de US$10 millones a 8 anos, incluyendo un periodo de gracia de 12 meses, y (ii) un prestamo revolvente de hasta US$20 millones con desembolsos de hasta 390 dias y un periodo de compromiso de hasta 2,5 anos, que podra ser renovable a discrecion de BID Invest. Los recursos del Prestamo se utilizaran para financiar inversiones y necesidades de capital de trabajo de la Compania, para respaldar su crecimiento y productividad, en general de manera sostenible.

Los objetivos de desarrollo del Proyecto son: (i) aumentar la produccion y la productividad en el sector primario de agricultura y acuicultura; y (ii) fomentar el crecimiento de las exportaciones, la cadena de suministro nacional y el empleo. De este modo, el proyecto tambien contribuira a mejorar la seguridad alimentaria en la region, en particular a traves de las dimensiones de disponibilidad y estabilidad de los alimentos.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Negocio Agrícola San Enrique, S.A. de C.V. (NASE) Client -

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.

General IDB Invest enquiries:

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

Client - Negocio Agrícola San Enrique S.A. de C.V.:

Email: elugo@nase.com.mx
Phone: (662) 260 9762 
Address: Blvd. Luis Donaldo Colosio Murrieta No. 671 No. Int. O-1101 Col. Santa Fe C.P 83249 Hermosillo, Sonora, México 

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).

How it works

How it works