Company name
Sociedad Anónima Molinos Arroceros Nacionales (SAMAN)
Project number
UR2391A-02
N/A
E&S category
N/A
Country
Uruguay
Sector
Agribusiness
Status
In implementation
Disclosed date
03/26/2007
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
04/27/2007
Approval date
05/01/2007
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 2,500,000
Financing amount
USD $ 2,500,000
Currency
USD
Project scope and objective
SAMAN was founded in 1942 as a small rice mill for the local market. Today, SAMAN is Uruguay’s largest rice exporter. The company receives rice from over 200 independent growers for processing and selling, chiefly to the export market. SAMAN also provides technical advisory services to rice growers, sells them irrigation services, and finances agricultural supplies, fuel, and working capital.
The loan will be used to bolster SAMAN’s financial structure after the significant investments it made in 2006 with its own funds. The purpose of these investments is to boost operating efficiency, final product quality, and the quality of service provided to growers.
Through this project the Corporation will help strengthen SAMAN’s financial structure, enabling SAMAN to continue providing financial support, through working capital, to over 200 independent rice growers who work with the company. The proposed project is therefore in keeping with the financial support program for supply chains.
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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.
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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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