Company name
Automotores y Maquinaria S.A.E.C.A. (“Automaq”)
Project number
PR4011A-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Paraguay
Sector
Agribusiness
Status
Completed
Disclosed date
11/13/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/13/2013
Approval date
12/20/2013
Signed date
05/27/2014
Sponsoring entity
Not Applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 1,400,000
Financing amount
USD $ 3,780,000
Currency
USD
Project scope and objective
The IIC Loan to Automaq will be used to provide a portion of the financing needed to implement the company’s expansion plan by opening, expanding, and upgrading service outlets outside the capital, in addition to meeting the company’s needs for marginal working capital.
Established in 1961, Automaq is a Paraguayan importer, representative, and dealer of agricultural machinery and implements (e.g., John Deere, Kuhn, and Cestari). The company is also the exclusive representative of Peugeot and Citroën cars and utility vehicles; of Michelin and BFGoodrich tires; of spare parts for the machinery, implements, and vehicles it represents; of TOTAL lubricants; and of Clark, Komatsu, Bomag, and Ausa construction machinery. In addition, Automaq provides repair/maintenance and post-sale services for the machinery, tools, and vehicles it represents.
Automaq currently has 11 outlets where it operates warehouses, sales offices, and some repair and maintenance workshops. Five of these outlets primarily cater to the agribusiness segment (agricultural machinery and tools). The company plans to open at least two additional outlets over the next two years to adequately leverage the potential of the agribusiness segment.
Over the past five years, Automaq has bet heavily on the agricultural sector as Paraguay’s main driver of economic growth. Consequently, it has had to expand and upgrade its customer-care, sales, and post-sales outlets in the country’s main agricultural production centers.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
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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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