Company name

Nicaragua Sugar States Limited

Project number

12814-01

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

Nicaragua

Sector

Agribusiness

Status

In implementation

Disclosed date

09/16/2019

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

Projected board date
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10/31/2019

Approval date

11/13/2019

Signed date

12/10/2019

Sponsoring entity

N/A

Team leader

Alvarado Blando, Gloriana

Investment type

Financing requested

N/A

Syndicated amount

USD $ 12,500,000

Financing amount

USD $ 25,000,000

Currency

USD

Project scope and objective

The proposed financing consists of an 8-year senior loan of up to US$37.5 million to be provided to Nicaragua Sugar States Limited (“Nicaragua Sugar”) as follows: US$25 million funded by IDB Invest and US$12.5 million funded by concessional funds administered by IDB. Nicaragua Sugar, one of the leading companies in the sugar sector in Nicaragua and Central America, will use of the financing (i) to continue to improve its efficiency and productivity levels through industrial and agricultural investments, (ii) for permanent working capital needs of its operations and its supply chain, and (iv) for green projects that improve its use of resources, especially water. The sugar sector in Nicaragua is one of the main agribusiness and export sector in the country.


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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.

ENVIRONMENTAL AND SOCIAL REVIEW

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Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

ENVIRONMENTAL AND SOCIAL ACTION PLAN - NICARAGUA SUGAR.PDF

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

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POSITION

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PHONE NUMBER

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EMAIL

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices