Pronaca Loan (IFC-37387)

Countries
  • Ecuador
Where the impacts of the investment may be experienced.
Specific Location
Quito, Bucay, and Valle Hermoso
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Hold
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 20, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Procesadora Nacional de Alimentos C.A.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2016-01-20 exchange rate.
Project Cost (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2016-01-20 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 21, 2017

Disclosed by Bank Dec 1, 2015


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Project Description
This project provides funds to Pronaca, an Ecuadorean poultry and pork processor. The funds will go towards expansion/improvement of the company's processing facilities, as well as to the company's feed mills. No new facilities will be constructed from this project.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Maximiliano Proaño Director de Tesorería Pronaca SA Los Naranjos N44-15 y Av. Los Granados Casilla 17-17-1462 Quito, Ecuador Telephone: (593-2) 397 6400, ext. 1110 / 246 6935 Fax: (593-2) 246 3667 Fabián Holguín Gerente de Tesorería Pronaca SA Los Naranjos N44-15 y Av. Los Granados Casilla 17-17-1462 Quito, Ecuador Telephone: (593-2) 397 6400, ext. 1170 Fax: (593-2) 246 3667 The ESRS will be available in the Company’s website (http://www.pronaca.com) as well as in the Juntas Parroquiales of Bucay and Puembo, and in the Company’s administrative offices: QUITO Los Naranjos N44-15 y Av. De Los Granados Teléfono: (+593-2) (3976400) Teléfono Directo Tesorería: (+593-2)(2466935) GUAYAQUIL Av. Rodrigo Chávez, Parque Empresarial Colón, Edificio Metropark, primer piso Teléfono: (+593-4) (3722000) SANTO DOMINGO DE LOS COLORADOS Avda. Tsáchila y Rio Baba, frente al Monumento Julio Jaramillo Teléfono: (+593-2)(2754857) ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/