Quick Facts

Where the impacts of the investment may be experienced.
  • Argentina
Location: Tucumán
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
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: 2016-08-23
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: Citrusvil S.A. ("Citrusvil")
The holder of the loan, grant, or other investment.
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): $ 65.00 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): $ 65.00 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 @ IIC website
Updated in EWS: 2017-08-10
Disclosure Date: 2016-07-21
Citrusvil S.A.

Project Description
Citrusvil is an Argentinian company that grows, processes, and sells lemons and lemon derivatives. The company, domiciled in Tucumán, has more than 7,500 hectares of lemon trees on 21 farms, supplying approximately 65% of the fruit it packs or processes. It has its own nursery with capacity of approximately 256,000 plants. Citrusvil has the capacity to process about 350,000 tons of lemon per year to produce juice in concentrate, essential oil, and dehydrated peel. It also has two fresh fruit packing units with capacity to pack 3 million cases (50,000 pallets). The products are exported all over the world from Buenos Aires’ various ports in containers or in bulk, with the main markets being the European Union, Eastern Europe, Russia, Canada, the Middle East, and the Far East. The purpose of the loan is to refinance short-term debt and support a second Grupo Lucci company.
Investment Description
Rabobank and Banco Itaú will be the initial participants. Grupo Lucci company is the Sponsoring Entity.
Contact Information
For inquiries about this project, contact divulgacionpublica@iadb.org 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).