GTSF PepsiCo Mexico (IFC-48820)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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."
Voting Date
Aug 8, 2024
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
Comercializadora PepsiCo S. de R.L. de C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1,000.00 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
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 25, 2024

Disclosed by Bank Jul 22, 2024

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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 the Bank’s website, this project is proposed under IFC’s Global Trade Supplier Finance program (“GTSF” or the “Program”) approved by the IFC Board on September 21, 2010 (Original Project #28723) and an additional increase approved on December 15, 2022. Under GTSF, IFC provides short-term financing to suppliers, in emerging markets selling to large companies on open account terms. Under this project, IFC will provide financing to Comercializadora PepsiCo Mexico S. de RL de CV and other Mexican subsidiaries of PepsiCo (“PepsiCo Mexico” or “the Company”) that are based in Mexico and other emerging market countries.                                                      

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

 This is a Category B project according to IFC's Policy on Environmental and Social Sustainability (2012) due to limited and site-specific E&S risks and impacts associated with the agro-commodities sourcing of raw materials from PepsiCo's suppliers.  Key E&S aspects for this facility are: (i) implementation effectiveness of PepsiCo's E&S Management System (including Supply Chain) for targeted commodities, including PS2 (e.g., child labor, forced labor, Gender-Based Violence and Harassment, significant OHS risks) and PS6 (significant conversion of natural habitats) related supply chain risks; and (ii) effectiveness of PepsiCo's grievance mechanism at suppliers and commodity-producing areas.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed project (‘the Project”) within the GTSF facility is expected to be US$75 million for PepsiCo Mexico’s Suppliers in Mexico and other emerging markets                                                 

Loan 500.00 million (USD)

Guarantee 500.00 million (USD)

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.

Comercializadora PepsiCo Mexico S. de RL de CV and other Mexican subsidiaries of PepsiCo is a leading convenient food and beverage company in North America & Latin America, with a portfolio of iconic brands, including Cheetos, Doritos, Lay’s, Gamesa, Sabritas, and Tostitos.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Comercializadora PepsiCo S. de R.L. de C.V. 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.

Comercializadora PepsiCo Mexico S. de RL de CV and other Mexian subsidiaries of PepsiCo
David Barahona

David.Barahona@pepsico.com
Mexico City, Mexico

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works