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According to the Bank’s website, the proposed financing package is part of an EUR 250mln IFC-led facility (B-loan) and is used to finance the procurement and export of 100% traceable cocoa beans from Cote d'Ivoire. With this facility, SUCDEN-CI will be able to continue and further expand its origination activities of traceable cocoa beans from Cote d'Ivoire.
The E&S category for this project is classified as A, as defined by FMO's Sustainability Policy, aligning with IFC's categorization as A.
The following is copied from IFC's disclosure website, which can also be consulted for additional information: This is a Category A project according to IFC's Policy on Environment and Social Sustainability (2012). Key E&S risks and issues associated with this investment are the same as those for #47216 and are: (i) The robustness of SUCDEN's E&S and Supply Chain risk assessment and implementation effectiveness of its Environmental and Social Management System (ESMS) for its direct operations (e.g., warehouses) and cocoa sourcing operations in CDI, including gender-based violence (GBV) risks; (ii) The E&S capacity/competency to ensure timely implementation of SUCDEN's Sustainable cocoa sourcing strategies up to and including September 2028 in CDI; (iii) Provision of fair and safe working conditions in line with PS2 and local labor requirements for direct workers and contractors of SUCDEN-CI; (iv) The efficacy of the risk assessment of its primary cocoa suppliers, including effective implementation of SUCDEN's Supplier Code of Conduct, risk assessment procedures of its cocoa sourcing, and annual independent verification of compliance with SUCDEN and off-takers' sustainability requirements, including avoidance of risks associated with child/forced labor, significant safety hazards (such as use of pesticides), and risks of conversion of Natural and/or Critical Habitats to farmland to be used for cocoa production; (v) The effectiveness of emergency preparedness and road safety policy and procedures; and (vi) The implementation of a Stakeholder Engagement Plan and Community Grievance Mechanism in CDI.
Funding: FMO NV
SUCDEN Côte d’Ivoire (“SUCDEN-CI”) sources cocoa beans in Côte d’Ivoire and is wholly owned by SUCDEN S.A., a global agricultural commodity trader with more than 70 years of experience. SUCDEN-CI does not own any farms, nor is expected to own any farm as part of this financing. The beans are sourced from smallholder farmers who are either members of cooperatives or sell to the same intermediaries every year.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | SUCDEN CI | Client | - |
| - | - | - | - | SUCDEN S.A. | Parent Company | - |
No contacts available 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
