CEDIAM

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 The proposed investment is a Eur2 million senior secured loan to Centre d’Etude et de Développement Industriel et Agricole du Mali SA (“Cediam” or the “Company”), a multi-fruit processing company, operating in Yanfolila (southern Mali), established in 2011 and operating since 2012. Cediam sources mangoes from about 2,000 smallholders for export as mango concentrate and puree packed in drums and exported mainly to Europe, via MontecarloFruit, a Montecarlo-based company specialized in the development and distribution of fruits and products, such as puree and concentrates. The IFC investment will (i) finance the replacement and/or acquisition of spare parts and equipment; and (ii) refinance and provide working capital to help the Company operate over its breakeven point, which corresponds to processing 15,000 tons of mangoes annually. The company operates its own, state-of-the-art processing plant (with a daily mango processing capacity of 240 metric tons and annual production of approximately 5.000 tons of mango puree and concentrate (on average over the past 8 years), 8 fruit ripening chambers, finished goods storage area, quality control laboratory, and equipment/vehicle workshop located in the commune of Wassoulou Ballé (Yanfolila circle), approximately 240 km south of Bamako. Cediam is the largest buyer of mangoes in Mali, the company sourced approximately an average of about 10,000 tons of mangoes per year in the past 5 years. Cediam owns a fleet of 15 trucks to transport its goods and collect fruits from the farmers. The Company employed approximately an average of 50 term and open-ended staff and 350 seasonal workers, of which approximately 85% are women.