Company name
Cooperativa Nacional de Productores de Leche (“Conaprole”)
Project number
12227-02
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
Uruguay
Sector
Agribusiness
Status
Closed
Disclosed date
05/10/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/02/2019
Approval date
07/09/2019
Signed date
07/29/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
N/A
Currency
USD
Project scope and objective
A senior loan granted directly to Conaprole for up to US$50 million to finance the construction of a powdered milk plant for nutritional products, with a term of up to ten years, including a grace period of up to three years. The financing will make it possible to increase the production and export of higher added value products, diversify the portfolio of products and markets, improving the productivity and competitiveness of Conaprole and the Uruguayan dairy sector, which is aligned with one of the priority areas of Uruguay’s strategy of improving productivity and competitiveness through innovation and international integration. In addition, Conaprole’s more than 1,900 members and milk producers will benefit indirectly from to the company’s higher profitability margins.
Conaprole, created in 1935, is a leader in Uruguay’s dairy industry with a track record of more than 80 years; its market share in milk sales is greater than 70% and its 1,914 cooperative members/producers represent 75% of producers. Sixty percent of its income comes from exports and it is Uruguay’s principal exporter and the principal exporter of dairy products in Latin America, accounting for 3% of the global dairy trade. In fiscal year 2018, it processed more than 1,650 million liters of milk, and its principal exports are liquid and powdered milk, cheeses, yogurt, butter, ice creams, and dulce de leche, which it markets under its own brands on local and export markets.
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 OfficesFor 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
92.2 Kb
CONAPROLE ENVIRONMENTAL AND SOCIAL ACTION PLAN - ENGLISH SEG - FINAL
156.0 Kb