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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Lopez Coronado, Gustavo
USD $ 3,000,000
Project scope and objective
The Inter-American Investment Corporation (IIC) has approved a loan of up to US$3 million to Tecnomyl S.A. in Paraguay to fund the expansion, improvement, and modernization of its industrial plant in order to increase production while maintaining high quality, not only for domestic sales but also for sales to new markets such as Brazil, Colombia, and Mexico.
The IIC loan to Tecnomyl will partly finance a number of investments in expansion of and improvements to its plant, such as: (i) laboratory: quality control; research and development; (ii) expansion of the flowable products plant, and (iii) storage for finished products.
Tecnomyl (www.tecnomyl.com.py) is the largest producer of agrochemical products (pesticides, fungicides, and herbicides) in Paraguay. It is the only local producer that holds ISO 9001 (quality) and 14001 (environmental) certifications, as well as the only one with a modern laboratory equipped with the technology to perform quality control on both the raw materials and its finished products. The laboratory is also capable of performing research and development to create new products for boosting farmer productivity and profits.
The IIC loan will enable the company to make these investments, which are so important for expanding its domestic production and ensuring high quality for gaining entry to new markets, including Brazil, Colombia, and Mexico.
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