Company name
Norson Holding, S. de R.L. de C.V.
Project number
12775-02
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
Mexico
Sector
Agribusiness
Status
In implementation
Disclosed date
08/10/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/10/2021
Approval date
11/15/2021
Signed date
12/22/2021
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 30,000,000
Currency
USD
Project scope and objective
The Project consists in two financing facilities to support Norson Holding, S. de R.L. de C.V (“Norson”, the “Company”, or the “Client”): (i) financial support facility to eligible suppliers from Norson’s supply chain (“Reverse Factoring”), and (ii) limited-resource financing facility to Norson, whereby IDB Invest will finance eligible farmers especially created to develop (design, build, operate and maintain) infrastructure (mainly, pig farms) related to Norson’s value chain under a sharefarming system (the “Sharefarming Financing”, jointly, the Sharefarming Financing and Reverse Factoring, the “Project”).
The factoring consists in a revolving uncommitted reverse factoring credit line to Norson and its eligible subsidiaries (the Buyers) in the amount of US$30 million. Through this line, IDB Invest seeks to enable access to financing at competitive prices for the Buyers’ suppliers (SMEs) in Mexico.
The Sharefarming Financing will amount to US$30 million with a line granted by IDB Invest to each company of up to 33% of the cost of each project under the Sharefarming Financing, and it consists in creating and developing eligible companies not controlled by Norson the design, construction, operation and maintenance of facilities for pig farms related to Norson’s pork production operations.
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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.
NORSON - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
993.3 Kb
NORSON - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
604.2 Kb