CEDIAM (IFC-37932)

Countries
  • Mali
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cediam’s project is located in the Sikasso region, southern Mali.
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
Proposed
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
Sep 30, 2017
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
CEDIAM
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 Amount (USD)
$ 7.67 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 EUR 6.5m
Converted using 2017-08-25 exchange rate.
Project Cost (USD)
$ 15.35 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 EUR 13m
Converted using 2017-08-25 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 25, 2017

Disclosed by Bank Jul 20, 2017

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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.
The proposed investment consists of a Eur6.5 million senior secured loan to Centre d’Etude et de Développement Industriel et Agricole du Mali SA (“Cediam” or the “Company”), a multi-fruit processing company, operating in Yanfolila (southern Mali), established in 2011 and operating since 2012. Cediam sources mangoes from 2,000 smallholders for export as fresh mangoes as well as to produce mango concentrate and puree packed in drums and exported mainly to Europe and the Middle East, via Montecarlofruit, a Montecarlo-based company specialized in the distribution of fruits as well as products such as puree, concentrates and juices.The proposed financing may also be made available under the private sector window of the Global Agriculture and Food Security Program (“GAFSP”), a multilateral mechanism launched by the G20 with the purpose of scaling-up support to help less developed countries alleviate poverty and improve food security, a program implemented by IFC.The investment will help support the company’s expansion plan, which entails: (i) development of a 234 ha land parcel, under acquisition in the Yanfolila region, to produce its own mangoes, tomatoes and passion fruit; (ii) expansion of the storage warehouse at the existing processing facility in Yanfolila and construction of a fresh mango sorting and packing platform; (iii) acquisition of vehicles to expand the transportation fleet; and (iv) installation of a pouch-filling line for tomato concentrate targeting Mali and neighboring countries. This investment would help support Cediam’s vertical integration and diversification projects, aimed at securing fruit supply as well as diversifying its business through products that would ensure year-round operation of the company’s existing processing facility rather than limiting operations to mango processing only for 4 months of the year (April to July). As part of a future expansion project, Cediam plans to install a fruit juice production line using the company’s mango puree. However, this does not fall within the scope of IFC’s proposed investment.
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.
CEDIAM SA Mr. Andrea Soave CEO +223 20.22.08.35 / +33 607931839 direction@cediamsa.com Quartier du Fleuve Route de Farako, Place de la Nation 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