Company name
Agrocacay, S.A.S.
Project number
CO-L1167
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
Colombia
Sector
Agribusiness
Status
In implementation
Disclosed date
11/07/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/26/2020
Approval date
09/17/2020
Signed date
12/10/2020
Sponsoring entity
Kahai, S.A.S
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 3,100,000
Financing amount
USD $ 8,000,000
Currency
USD
Project scope and objective
Disclaimer
Effective January 1, 2016, this operation is being managed by the Inter-American Investment Corporation (IDB Invest). For information disclosed by the Inter-American Development Bank (IDB) before that date, please refer to the Projects section on the IDB website.
* Amendment July 24, 2020: The financing amount has incresed to US$3,100,000, and the approval date has been confirmed for August 26,2020.
The Operation consists of providing resources to Agrocacay SAS in order to finance the planting and maintenance of 300 hectares of cacay,[1] a native tree of the Colombian Amazon, to be carried out in the district of Meta, in Los Llanos de Colombia ("The Project"). Kahai SAS, owner of Agrocacay SAS, which is in charge of transforming the fruit into final products, will act as guarantor of the terms of the financing in question. Kahai SAS will contribute capital to the Project in the form of cash and trees for planting.
The total costs of the Project, including the acquisition of the lands for planting, are US$8 million, of which IDB Invest will contribute US$1.5 million from the Climate Smart Agriculture Fund (CSAF) of the Global Environment Facility. The financing includes a 12-year term and a 6-year grace period to ensure that the loan repayment profile is in line with the capability of the planted trees to produce fruit for harvesting.
[1] The fruit of the cacay has multiple commercial uses that range from the production of snacks to its use as raw material for cosmetic and food products.
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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.
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 SUMMARY
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KAHAI - ESAP.PDF
180.3 Kb