San Miguel Mobilization

completed

The proposed investment in San Miguel is a corporate loan, which maximizes mobilization under IFC’s umbrella with an A loan up to US$5 million and a B loan up to US$20 million. The funds from IFC will be utilized for a variety of purposes, including the replanting of older orchards with higher producing, more densely planted trees. A long-term IFC client, San Miguel has evolved its operations to comply with IFC’s E&S requirements and applicable WBG’s EHS Guidelines and to increase its sustainability in accordance with good industry’s standards such as GlobalGAP; and, is nearing completion of a complex industrial wastewater management system. San Miguel, with the imprimatur of its internationally recognized food safety certifications in raw materials production and in processing exported diverse products, achieved 2009 revenue of US$207 million. San Miguel core operations are in Argentina, with more than 5,500 ha in plantations and downstream processing/packing facilities.