Who is our client
Co-borrowers Kumagro and IPSoy are part of the group of companies that enable the growth of GDM’s non-GM soybeans business.
FMO’s funding will be used to as working capital for the trading of non-GM soy by Ipsoy.
Why we fund this project
Currently, less than 2% of the world’s soybean production is certified sustainable. By supporting the Co-borrowers, FMO supports the increased availability of certified sustainable soybeans.
Environmental and social rationale
B+ because of supply chain risks. The following Performance Standards are applicable: • PS 1 – Assessment and Management of Environmental and Social Risks and Impacts • PS 2 - Labor and working conditions • PS 3 - Resource Efficiency and Pollution Prevention • PS 4 – Community Health, Safety and Security • PS 6 – Biodiversity Conservation and Sustainable Management of Living Natural Resources Performance Standard 5 (Land Acquisition and Involuntary Resettlement), Performance Standard 7 (Indigenous People) and Performance Standard 8 (Cultural Heritage) do not apply because the client will not acquire land for expansion, there are no indigenous people or cultural heritage sites present in the area of influence of the client.
|Date||Total FMO financing|
|4/8/2019||USD 5.00 MLN|
|4/8/2019||USD 7.50 MLN|
- Website client
- Latin America & The Caribbean
- Agribusiness, Food & Water
- Signing date
- Total FMO financing
- USD 5.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)