Company name
Exportadora Frutícola del Sur S.A.
Project number
PE3955A-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
Peru
Sector
Agribusiness
Status
Completed
Disclosed date
02/22/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/26/2013
Approval date
04/05/2013
Signed date
04/22/2013
Sponsoring entity
Agrícola Athos S.A. and Ica Pacific S.A.
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 2,000,000
Currency
USD
Project scope and objective
Established in 1988, Exportadora Frutícola del Sur S.A. (EXFRUSUR) is an agribusiness whose core activities are packaging and exporting agribusiness products. The sponsors are Jorge and Manuel Checa, who have formed a group of seven companies dedicated to growing, producing, and exporting asparagus (since 1986), pomegranates (since 2002), and other agricultural products.
In recent years, EXFRUSUR has begun expanding its activities to include crop-growing operations. The project encompasses financing to plant 112 hectares with pomegranate, 10 hectares with blueberries, and 26 hectares with dates, as well as the purchase of land, machinery, and equipment. The project has been partially—and temporarily—financed with short-term funds.
A portion of the IIC funding would be used to refinance short-term debt. Through this loan, the IIC would be supporting the company’s growth and production capacity by providing long-term financing for crops that produce for many years. The proposed operation consists of a loan of up to US$2 million.
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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
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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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