Leap India Food & Logistics (DFC-2023-LEAPINDIAFOOD)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Malout, Punjab; Alwar, Rajasthan; Harduaganj, Uttar Pradesh; and Murshidabad, West Bengal
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
  • US International Development Finance Corporation (DFC)
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
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
Leap India Food & Logistics Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Construction
  • Industry and Trade
  • Infrastructure
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)
$ 33.00 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)
$ 33.00 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)
$ 44.00 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.
Bank Documents
Primary Source

Original disclosure @ DFC website

Updated in EWS Dec 14, 2023

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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.

As stated by the DFC, the Project is expected to have a positive development impact in India by constructing four modern grain silo’s in Malout, Punjab; Alwar, Rajasthan; Harduaganj, Uttar Pradesh; and Murshidabad, West Bengal.
Food security remains a significant priority for India. To address this need, the Indian government’s Food Corporation of India (FCI), which manages the largest public food distribution network in the world. FCI has historically relied on traditional warehouses where grains are stored in sacks or in open covered and plinth facilities that suffer from high
rates of spoilage. The Project’s modern siloes, developed under concession for FCI, will significantly reduce spoilage, increasing the amount of food available to lower-income Indians through FCI’s distribution scheme. This will reduced post-harvest loss & will also reduce water use and GHG emissions. Finally, the modern silos will support farmers by providing a more efficient and lower-cost procurement system than that associated with current FCI storage facilities.

The borrowers are Leap India Food & Logistics Ltd.'s subsidiaries, namely:
- Leap Agri Logistics (Malout) Private Limited;
- Leap Agri Logistics (Alwar) Private Limited;
- Leap Agri Logistics (Harduaganj) Private Limited; and
- Leap Agri Logistics (Murshidabad) Private Limited.

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 on the company's LinkedIn profile, Leap India is one of India’s leading Agri Infrastructure company. Leap India works with the Govt of India in developing and operating long term PPP Projects for storage of Agri produce. Leap India is currently developing and operating over 700,000 Metric tons of storage capacity across 12 states in India & is currently the 2nd largest company in India for bulk grain storage

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Leap India Food and Logistics Ltd. Client Agriculture and Forestry

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 project contacts provided at the time of disclosure.

Borrower - Leap India Food & Logistics Ltd.:

Address: Plot No 645, Road No 36, Jubilee Hills, Hyderabad, Telangana 500032, IN
Website: http://leapifl.com/

ACCESS TO INFORMATION

Unlike many other development finance institutions, DFC does not currently have an access to information policy.

Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia

ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)

The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.

You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability

How it works

How it works