Bauducco COVID (IFC-44358)

Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
City of Guarulhos, São Paulo State
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."
Borrower
Pandurata Alimentos Ltda.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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)
$ 20.00 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)
$ 20.00 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 Apr 29, 2022

Disclosed by Bank Apr 27, 2022

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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.

 Pandurata Alimentos Ltda. (Bauducco or the Company), an existing IFC client, is a baked products company in Brazil, having five manufacturing plants, two located in Guarulhos (Sao Paulo), one located in Extrema (Minas Gerais) one in Rio Largo (Alagoas) and more recently one in Miami (Florida, USA). IFC is a long-term partner of Bauducco, having committed four investments since 2007, namely #25765 disclosed in April 2007 (https://disclosures.ifc.org/#/projectDetail/ESRS/25765), #27783 disclosed in May 2009 (https://disclosures.ifc.org/#/projectDetail/ESRS/27783), #37708 disclosed in February 2016 (https://disclosures.ifc.org/#/projectDetail/ESRS/37708), and finally #40796 disclosed in April 2018 (https://disclosures.ifc.org/project-detail/ESRS/40796/bauducco-growth). Bauducco’s current environmental and social performance is satisfactory. Bauducco has a portfolio of products, including sliced bread, toasts, wafers, cookies, panettones, among others. All facilities are in industrial areas, except for the two facilities located in Guarulhos, which are in an urban area. The proposed investment involves a loan of up to US$20 million to finance Bauducco’s expansion of a new bread production line within the footprint of its plant in Bonsucesso (Guarulhos). As a result of this expansion, approximately 160 new job positions will be created.                                                  

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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ACCESS TO INFORMATION
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ACCOUNTABILITY MECHANISM OF IFC/MIGA
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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