Promoting a Cluster Approach for Agricultural Diversification in Guyana (IADB-GY-M1025)

Countries
  • Guyana
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 10, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CARANA Corporation
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.78 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Oct 13, 2016


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Project Description
The project will improve the competitiveness of Guyana's small scale farmers and promote their access to high value export markets. The project will finance the implementation of a cluster farming model which will help small scale farmers to achieve scale and also provide key marketing and agronomic services. The MIF project will focus on developing a network of 20 new contract farms. Farmers who are interested in partnering with CADP will possess their own land, be able to secure access to finance (with adequate financial conditions) and be willing to adopt a series of quality and traceability standards. The project will focus on agriculture farms from 2 to 10 acres, which will grow hot peppers and other horticultural crops based on demand from buyers. The project will be executed by CARANA Corporation, a member of the Palladium group of companies. CARANA is an international services contractor that has worked on other IDB, DFID and USAID projects.
Investment Description
  • Inter-American Development Bank (IADB)
Non Reimbursable Technical Cooperation through the Multilateral Investment Fund (MIF).
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).