Original disclosure @ FMO website
Updated in EWS Jun 25, 2018
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WHO IS OUR CLIENT
Agrofertil, founded in 1993, is the leading distributor of fertilizers, crop protection products and seeds and agronomic services company in Paraguay, with its headquarters in Ciudad del Este. Through their extensive network of 20 distribution centers of which 14 have storage silos located in industrial zones or rural centers near the major crop regions in Paraguay, the company assists more than 1.800 farmers.
FMO has provided a USD 10 million medium-term facility to finance Agrofertil S.A.'s structural working capital needs and increase their capacity to provide pre-harvest financing to farmers in Paraguay.
WHY WE FUND THIS PROJECT
Agrofertil plays a key role in the agri value chain in Paraguay, supporting small and medium sized farmers and cooperatives. Agribusiness is considered to be the engine of the Paraguayan economy and is the sixth largest producer and fourth largest exporter of soybeans worldwide which contributes to some 23 percent of the country's GDP. Through this project, FMO will be enhancing Agrofertil's capacity to provide pre-harvest financing to farmers and will contribute to the further development of agriculture sector, a key pillar of Paraguay's economy. Thanks to the pre-harvest financing and agronomic advice provided by Agrofertil, farmers are able to increase their productivity and profitability.
+31 70 314 96 96
Anna van Saksenlaan 71
2593 HW, The Hague
+27 11 507 2500
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/