Sao Martinho I (IFC-37809)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
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
Active
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
Mar 30, 2017
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
São Martinho S/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.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 1, 2017

Disclosed by Bank Mar 1, 2017


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Project Description
São Martinho is a leading sugar/ethanol producer in Brazil operating 4 mills in the States of São Paulo and Goiás in Brazil. São Martinho crushed 19.3 million tons of sugarcane last season (2016/2017), and produced 1.3 million tons of sugar, 398,000m3 of anhydrous ethanol and 269m3 of hydrous ethanol. The proposed investment, will support the company’s investment program for sugarcane planting and sugarcane fields treatment, provide for industrial maintenance and improvements as well as to make investments in life and fire safety adequacy.
Investment Description
  • International Finance Corporation (IFC)
IFC is considering a financing package of an A-Loan of US$60 million and a B-Loan of US$40 million to São Martinho.
Contact Information
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/