Company name
CI Union de Bananeros de Uraba SA
Project number
13518-01
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
B
Country
Colombia
Sector
Agribusiness
Status
Proposed
Disclosed date
12/23/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/25/2022
Approval date
03/21/2022
Signed date
N/A
Sponsoring entity
Tropical Marketing Associated
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 25,000,000
Currency
USD
Project scope and objective
The transaction consists in a Revolving Committed Credit line in the amount of US$15 million for financing accounts receivable from banana and other fruit exports to selected buyers from Tropical Marketing Associated (TMA), commercial branch and subsidiary of C.I. Unión de Bananeros de Urabá, main banana and plantain exporter in Colombia. The transaction goal is to strengthen the working capital terms of TMA and to support the growth of banana and other fruit exports to Europe from Colombian SME farmers. Additionally, it includes an uncommitted tranche of up to US$10 million for new investments in Colombia for 2022 and/or 2023.
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Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
mauricio.alvarez@uniban.com.co
PHONE NUMBER
(+57) 511 5540
POST OFFICE ADDRESS
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(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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.
UNIBAN ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
378.9 Kb
UNIBAN - ENVIRONMENTAL AND ACTION PLAN (ESAP)
184.3 Kb