Conaprole 2019 (IFC-42477)

Countries
  • Uruguay
Geographic location 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
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."
Borrower
COOPERATIVA NACIONAL DE PRODUCTORES DE LECHE
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)
$ 60.00 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.
Project Cost (USD)
$ 60.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 29, 2019

Disclosed by Bank May 20, 2019

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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.

Cooperativa Nacional de Productores de Leche (the “Cooperative” or “Conaprole”), an IFC client since 2002, is a leading Uruguayan dairy producer and exporter, as well as one of the lowest cost producers in the world. The Cooperative operates 8 processing plants and processes 1.4 billion liters of milk per annum sourced from more than 1,900 farmers. The industrial plants are: (i) Florida plant # 7, (ii) Villa Rodriguez (VR) plant #8, San Ramon (SR) # 9, San Carlos (SC) # 10, Ricon del Pino (RDP) #11, Rivera plant #14, Mercedes #16, and Montevideo plant, plant # 21. Conaprole has requested IFC to extend an A Loan of up to US$60 MM to finance: i) the construction of a spray-dryer tower to produce infant formula for export at Villa Rodriguez plant; ii) the replacement of current small and inefficient boiler system with a new more efficient one (allowing for GHG reduction); and iii) the upgrade of waste water treatment facilities at all their industrial sites (the “Project”).The new Project to produce infant formula follows Conaprole’s strategic view of adding value to its exports as the formula will be sold to multinational companies who will then sell it in Latin America under their own brands. This is one more move in the direction of the Cooperative’s mission, which is not only to absorb its member-farmers’ milk production but also to maximize returns for them.

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.

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/

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