Bauducco COVID

active

 Pandurata Alimentos Ltda. (Bauducco or the Company), an existing IFC client, is a baked products company in Brazil, having five manufacturing plants, two located in Guarulhos (Sao Paulo), one located in Extrema (Minas Gerais) one in Rio Largo (Alagoas) and more recently one in Miami (Florida, USA). IFC is a long-term partner of Bauducco, having committed four investments since 2007, namely #25765 disclosed in April 2007 (https://disclosures.ifc.org/#/projectDetail/ESRS/25765), #27783 disclosed in May 2009 (https://disclosures.ifc.org/#/projectDetail/ESRS/27783), #37708 disclosed in February 2016 (https://disclosures.ifc.org/#/projectDetail/ESRS/37708), and finally #40796 disclosed in April 2018 (https://disclosures.ifc.org/project-detail/ESRS/40796/bauducco-growth). Bauducco’s current environmental and social performance is satisfactory. Bauducco has a portfolio of products, including sliced bread, toasts, wafers, cookies, panettones, among others. All facilities are in industrial areas, except for the two facilities located in Guarulhos, which are in an urban area. The proposed investment involves a loan of up to US$20 million to finance Bauducco’s expansion of a new bread production line within the footprint of its plant in Bonsucesso (Guarulhos). As a result of this expansion, approximately 160 new job positions will be created.