Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Argentina
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: Pending Disbursement
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: 2016-11-08
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: GRUPO LOS GROBO LLC (GLG)
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
Investment Type(s): Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 50.00 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): $ 50.00 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: 2017-08-11
Disclosure Date: 2016-11-18
Los Grobo Equity
IFC-38193

Project Description
IFC’s equity investment will support GLG to take advantage of the positive Argentine macroeconomic and agricultural industry situation and contribute to the company’s growth plan. According to IFC, the Project will be promoting food security as IFC will be investing in a world-class agribusiness servicer and key input producer and supplier, contributing to the cost-efficient production of a leading global grain and protein exporting country. As such, IFC would contribute to the provision of working capital needs to promote grain and protein production increase expected to occur in Argentina.
Investment Description
GLG is controlled by the Grobocopatel family, which founded the company in 1984. The Group’s main operations include manufacture and distribution of crop protection products (“CPP), distribution of fertilizers, distribution of seeds and biotech market, grain production, grain trading and marketing, and flour milling. IFC proposes an equity investment of $50 MM in GLG through a partnership with Victoria Capital Partners.
Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/