ECOM COVID-19 Smallholder Farmer Climate Resilience and Livelihood Support Project (ADB-55106-001)

Regions
  • East Asia and Pacific
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
  • Indonesia
  • Papua New Guinea
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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."
Voting Date
Dec 14, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ECOM Agroindustrial Asia Pte. Ltd. , ECOM Agroindustrial Corp. Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
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.
Loan 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)
$ 163.80 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.
Bank Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 20, 2024

Disclosed by Bank Dec 14, 2021

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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.

According to ADB documents, the prposed investment is a loan of up to $60,000,000, in United States dollars, to ECOM Agroindustrial Corp. Limited (EACL) and to ECOM Agroindustrial Asia Pte. Limited (EAA) for the Ecom COVID-19 Smallholder Farmer Livelihood Support Project in Viet Nam, India, Indonesia, and Papua New Guinea (PNG). The report also describes the proposed administration of a concessional loan of up to $1,200,000 to be provided by the Australian Climate Finance Partnership (ACFP).

An accompanying technical assistance grant will provide capacity building in climate-smart cocoa and coffee farming best practices and financial literacy in Indonesia and PNG, further supporting farmers’ recovery from the pandemic. The technical assistance will benefit about 4,000 farmers and also promote gender-inclusive practices. The grant comprises $205,000 from ADB’s Technical Assistance Special Fund for COVID recovery and $425,000 from the Strategic Climate Fund, administered by ADB. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the ADB, the borrowers are ECOM Agroindustrial Corp. Limited (EACL), ECOM’s ultimate holding company incorporated in Switzerland, and ECOM Agroindustrial Asia Pte. Limited, a wholly owned subsidiary of EACL, incorporated in Singapore.

ECOM is the world's largest coffee miller and one of the world's top merchants of coffee, cocoa, and cotton. It works with over 800,000 farmers in 40 countries. As an integrated commodity originator, processor, and merchandiser, ECOM focuses on partnering with smallholder farmers to provide traceable and certified products to branded product manufacturers.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ECOM Agroindustrial Asia Ltd Client -
- - - - ECOM Agroindustrial Corp Ltd Client -

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.

No contact details were provided at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works