Sociedad Agricola Viru S.A. (IIC-PE-L1168)

Countries
  • Peru
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
B
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
Jun 7, 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
Sociedad Agricola Viru S.A.
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 8.00 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)
$ 48.50 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 @ IIC website

Updated in EWS Aug 16, 2017

Disclosed by Bank Apr 26, 2016


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Project Description
IIC proposes to provide a senior secured corporate loan to Viru to finance the deployment of new technologies to expand its vegetable processing export business and conduct its operations in a socially inclusive and environmentally sustainable way. These actions are expected to strengthen Viru’s competitiveness. The investment plan includes: i) increase agricultural output by developing additional asparagus, avocado and other plantations; ii) increase the application of technologies to conserve water on irrigated land, improve food quality, and reduce production costs; iii) improve its financial structure by refinancing an existing loan; and iv) finance working capital and a gender equality certification
Investment Description
  • IDB Invest
Contact Information
For inquiries about this project, contact divulgacionpublica@iadb.org ACCOUNTABILITY MECHANISM OF IDB/ IIC 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).