COMERCIALIZADORA DE MANÍ, S.A.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Founded in 1992, COMASA is Nicaragua’s industry leader in peanut sourcing, processing, and exporting. The company sources raw peanuts from 190 local producers, covering 34,000 hectares of plantations and representing 75% of the country’s annual peanut crop.
What is our funding objective?
FMO participates for up to USD 15mln in a USD 65mln IFC-led syndicated working capital facility. The funds will be used to support COMASA’s purchase of peanuts from Nicaraguan farmers, and the processing of these peanuts for regional and global export.
Why do we fund this investment?
The transaction will support the continued viability of the peanut sector of the country, one of the top 5 agribusiness exports of Nicaragua. This sector represents an estimated 5% of exports from Nicaragua and generates an estimated 8,000 direct jobs.
What is the Environmental and Social categorization rationale?
FMO’s environmental and social due diligence indicates that IFC Performance Standards that are triggered in this transaction are linked to the supply chain of COMASA, specifically Performance Standards: PS 2 Labour and Working Conditions, PS 3 Resource Efficiency and Pollution Prevention, PS 4 Community Health and Safety and PS 6 Risk of significant conversion of natural and or critical habitats. An Environmental and Social Action Plan (ESAP) has been prepared with the company to address and manage these risks. Some recommendations have been made regarding PS 1 – Assessment and Management of Environmental and Social Risks and Impacts that will also be included in the ESAP. The other Performance Standards (5, 7 and 8) are not applicable because the company does not own plantations (PS 5), and the project does not generate any impact on indigenous people (PS 7) or cultural heritage (PS 8).
More investments
| Date | Total FMO financing |
|---|---|
| 7/1/2024 | USD 12.44 MLN |
| 5/10/2022 | USD 11.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Nicaragua
- Sector
- Agribusiness, Food & Water
- Publication date
- 2/2/2021
- Effective date
- 3/17/2021
- End date
- 10/20/2022
- Total FMO financing
- USD 14.71 MLN
- Funding
- FMO NV
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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) - B+