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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
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B

Country

Colombia

Sector

Agribusiness

Status

Hold

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
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03/25/2022

Approval date

03/21/2022

Signed date

N/A

Sponsoring entity

Tropical Marketing Associated

Team leader

Garcia Garcia, Victor

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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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

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Mauricio Alvarez Zerrate

POSITION

Gerente de Tesorería

PHONE NUMBER

(+57) 511 5540

EMAIL

mauricio.alvarez@uniban.com.co

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