Company name

ECOSAC

Project number

13286-01

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
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B

Country

Peru

Sector

Agribusiness

Status

Approved

Disclosed date

06/07/2021

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

Projected board date
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07/19/2021

Approval date

07/19/2021

Signed date

N/A

Sponsoring entity

Eco-Acuícola S.A.C. y Ecosac Agrícola S.A.C.

Team leader

Narvaez, Carlos Eduardo

Investment type

Financing requested

USD $ 58,500,000

Syndicated amount

N/A

Financing amount

USD $ 35,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of a senior secured loan for Eco-Acuícola S.A.C. and Ecosac Agrícola S.A.C. (“Ecosac” or the “Company”). The transaction consists of an A/B loan for up to US$58.5 million, with a 10-year term (7 years for the B loan) and a two-year grace period with a collateral guarantee acceptable to IDB Invest. 

 

The funds will be used to finance: (i) expansion capital investments to increase crop production and the efficiency of existing operations; (ii) permanent working capital; and (iii) debt refinancing (the “Project”).

 

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ECOSAC - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) JUNE,2021

102.4 Kb

ECOSAC - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) JUNE,2021

215.0 Kb

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Contact information

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

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COUNTRY OFFICES

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