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Company name

Almacenadora Mercader, S.A.

Project number

ME1139A-01

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E&S category
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Country

Mexico

Sector

Transport

Status

Completed

Disclosed date

07/31/2000

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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10/02/2000

Approval date

09/28/2000

Signed date

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Sponsoring entity

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Investment Operations Department Contact

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Investment type

Syndicated amount

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Financing amount

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Currency

USD

Project scope and objective

Almer is a grain warehousing company that was privatized in 1998. As a warehousing company it has very relevant role in the tortilla production chain because its logistics and infrastructure (buying, storage, grading, selling) allows for timely supply of raw material (corn) from the many, mostly small farmers to the producers of tortillas.



The proposed project involves providing Almer with permanent working capital through the use of warehouse receivables as security in order to increase its purchase of white corn from most small farmers that is used in the production of tortillas (the "Project"). This will result in an overall increase in the efficiency in the tortilla production system. In addition, as part of the Project, the Company will increase its purchase of wheat and sorghum. The Company will be able to increase its purchase of grains from Mexican producers via repurchase agreements ("repos") to be financed with the Project¹s funds. The increase in permanent working capital will enable the Company to expand its operations, thereby increasing the utilization of its existing fixed assets without making significant investments. In addition, the Project supports the development of the Mexican capital market by creating the basis for the eventual securitization of the grain purchase instruments (warehousing receipts). The more immediate benefit will be to agricultural producers by giving them access to credit and to modern distribution systems and risk management instruments.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

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PHONE NUMBER

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POST OFFICE ADDRESS

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .