According to the IFC website, the project is an investment of senior loan in Jain Irrigation Systems Limited, India. Jain Irrigation Systems Limited is one of India’s largest integrated agribusiness players, with operations in Micro Irrigation Systems, plastic pipes and sheets, dehydrated vegetables, processed fruits and other smaller businesses including tissue culture, agri-tech solutions and green energy.
The proposed investment will be used for a combination of capital expenditure in the company’s Micro Irrigation Systems (MIS) business and debt refinancing.
The project's objectives are:
1) Raising farmer incomes: The adoption of MIS and better farming techniques is expected to reduce risk from weather, lower cost of farm inputs such as fertilizers and energy, and also increase yields. This will improve farmer income and have a direct impact on poverty reduction for those at the bottom of the pyramid.
2) Improved water management: India has 18% of the world's population and only 4% of the fresh water resources, and per capita availability is projected to keep declining. MIS improves water efficiency that will lead to improved water management and a smaller environmental footprint caused by agricultural growth.
3) Improved infrastructure: The Company manufactures pipes used for water supply, sewage, waste management supporting the Government of India's "Swachh Bharat" (Clean India) Mission.
Jain Irrigation Systems Limited, together with its subsidiaries, engages in the agriculture business in India, Europe, North America, and internationally. The company operates through Hi-Tech Agri Input Products, Industrial Products, and Non-Conventional Energy segments
For inquiries about the project
Mr. Atul B. Jain, Chief Financial Officer
Jain Irrigation Systems Ltd.
7, Kumtha Street, Ballard Estate,
Mumbai – 400 001 India
Telephone: +91 22 22610011
Fax: +91 22 22621177
For inquiries and comments about IFC
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
Local access for project documentation
Company website: http://www.jains.com
Jain Irrigation Systems Ltd.
Jain Plastic Park
N.H. No.6. P.O. Box:72
Bambhori, Jalgaon – 425001
Tel : +91 - 257 - 225 8011
Fax : +91 - 257 - 225 8111
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/