Company name

Tecnomyl S.A.

Project number

PR4026A-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

Paraguay

Sector

Agribusiness

Status

Completed

Disclosed date

04/14/2014

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

Projected board date
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05/20/2014

Approval date

10/23/2014

Signed date

12/04/2014

Sponsoring entity

N/A

Team leader

Lopez Coronado, Gustavo

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 3,000,000

Currency

USD

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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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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Contact information

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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