Pronaca Loan (IFC-37387)

Countries
  • Ecuador
Geographic location 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
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
Jan 20, 2016
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
Procesadora Nacional de Alimentos C.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 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.
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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents 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
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.
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
Here you can find a list of individual development financial institutions that finance the project.

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.
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/

How it works

How it works