Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Ecuador
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-05-17
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Moderna Alimentos SA
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-04-13
Moderna II
IFC-35382

Project Description
Moderna, a leading wheat flour milling company in Ecuador and the second largest bread producer in the country, has requested from IFC a new 8 year A Loan (including a 2-year grace period), up to US$ 15 million, to i) partially finance the Company’s 2016-2017 Capital Expenditure program which totals US$30.1 million, including acquisition of new equipment and machinery, which will improve quality and efficiency at the different industrial facilities of Moderna minimizing the Company’s downtime, and provide a positive environmental impact by financing equipment needed to generate renewable energy in the Cayambe plant; and ii) finance working capital needs.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF IDB/ IIC The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).