Sahyadri Farms Post Harvest Care Limited (FMO-61128)

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.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
Sahyadri Farms Post Harvest Care Limited (SFPHCL)
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)
$ 15.00 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)
$ 15.00 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.
Other Related Projects
Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 27, 2022

Disclosed by Bank Jun 9, 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.

FMO intends to invest up to USD ~15mln in SFPHCL as part of a consortium of investors led by Incofin. The objective of the funding is to finance (1) capacity expansion in the Nashik processing plant, (2) a biomass plant, (3) additional collection centres and packhouses, and (4) the growth of the Company's domestic supply chain.

This investment considers an E&S risk and impact category B+ due to its agro-industrial nature and potential impacts beyond the boundaries of the site, through its network of producers (farmers). IFC PS 1-4 and PS-6 are triggered. Key risks relate to labour, health and safety, and prevention of pollution and biodiversity impacts. The Company has various ESG-relevant certifications as it delivers to international offtakers, and applies good agricultural practices (GAP). FMO will support further strengthening of the E&S performances at both the site and supply chain levels.

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.

Sahyadri Farms Post Harvest Care Limited ("SFPHCL") procures, processes and markets fruits & vegetables for the export and domestic markets. The Company is based in Nashik, India. It is a majority-owned subsidiary of Sahyadri Farmer Producer Co. Ltd., a farmer owned Farmer Producer Organization ("FPO"). SFPHCL sources produce from >15k mostly small and medium-sized farmers, who are further supported by the FPO through a farmer facilitation program. SFPHCL is currently the largest grapes exporter and tomato processor in India.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Sahyadri Farms Post Harvest Care Limited 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.

Information not provided at the time of disclosure

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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/independent-complaints-mechanism

How it works

How it works