Company name
CMI Alimentos
Project number
12167-01
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
Regional
Sector
Agribusiness
Status
In implementation
Disclosed date
10/26/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/27/2018
Approval date
11/27/2018
Signed date
12/23/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 250,000,000
Financing amount
USD $ 100,000,000
Currency
USD
Project scope and objective
The proposed transaction consists of a syndicated loan led by IDB Invest of up to US$350 million, with a 5-year term including a grace period of up to 1.5 years, of which US$100 million will be financed by the Inter-American Development Bank Group (IDB Group), US$50 million by third-party funds administered by the IDB and the rest with other mobilization of funds (the "Loan"). The Loan will be used: (i) to finance fixed investments of 16 companies of CMI Alimentos located in Guatemala, El Salvador, Honduras, Costa Rica and Dominican Republic, for a total amount of up to US$210 million, to continue expanding their operations, improving their productivity levels, renew fixed assets and carry out environmental projects, and (ii) to finance the purchase of 50% of the shares of Procesadora Nacional de Alimentos CA (Pronaca) in Ecuador, for an amount of up to US$140 million, to support the inorganic expansion of CMI Alimentos (the "Project").
CMI Alimentos is the main business division of Corporación Multi Inversiones ("CMI"), one of the most important economic groups in Central America with operations in 9 countries. The economic activities of CMI Alimentos include the production of chicken, pork and derived products (Industria Pecuaria), the production of wheat flour, corn, pasta and cookies (Molinos Modernos), and the operation of fast food restaurants (Restaurantes de Centroamerica).
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
PERFORMANCE STANDARDS - TABLE 1 - CMI ALIMENTOS
14.0 Kb
ENVIRONMENTAL AND SOCIAL ACTION PLAN - CMI ALIMENTOS
169.9 Kb
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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
90.2 Kb
ESRS AND ESAP - CMI ALIMENTOS
861.2 Kb