Jain IV (IFC-40251)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
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 27, 2018
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
JAIN IRRIGATION SYSTEMS LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Finance
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)
$ 39.89 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 29, 2019

Disclosed by Bank Feb 22, 2018


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Project Description

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. 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

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

Contact Information

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
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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
Maharashtra, India.
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/