587767 - PPP Grains

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Summary of Advisory Services Project Information

Project Number

587767

Primary Business Area

Public-Private Partnerships Transaction Advisory

Disclosure Date

Feb 5, 2014

Country

Philippines

Region

East Asia and the Pacific

IFC Approval Date

Feb 24, 2012

Status

Completed

Estimated Total Budget

$1,027,991.00
(Project budget includes all project-funded activities)

Last Updated Date

Apr 5, 2017

Project Estimated End Date

Jun 30, 2014

Project Description

IFC has been appointed as co-transaction advisor with the Land Bank of the Philippines (LBP) to provide advisory services to the Department of Agriculture (DA) to structure, and competitively tender and award the sale of eleven yellow corn Post Harvest Processing and Trading Centers (PHPTCs) located across the Philippines. Specifically, IFC will advise on all pre-investment activities including due diligence review, transaction structuring, marketing and promotion to potential investors, development of bid and sale documents. IFC will also support the competitive bidding process up to the award of the asset purchase agreement(s). The PHPTCs are owned by the National Agribusiness Corporation (NabCor), a subsidiary of DA, in joint-venture with local government units, and in some cases, Cooperatives. As each PHPTC will be tendered as a separate lot, the project will be awarded to one or more successful bidder(s) for which individual asset purchase agreements will be signed.

Development Results

The objective of this project is to assist the Land Bank of the Philippines (LBP) as co-transaction advisor, and the project sponsor, the Department of Agriculture (DA), to competitively tender the sale of eleven yellow corn Post Harvest Processing and Trading Centers (PHPTCs) that have 100 metric ton/day processing capacity and are located across the Philippines. As each PHPTC will be tendered as a separate lot, the project will be awarded to one or more successful bidder(s) for which individual asset purchase agreements will be signed.

Indicator	Calendar Year 2020 Results	Cumulative Results as of 2020
Number of agreements (concession, etc.) signed	Not Available	1
Number of bids conducted	Not Available	11

E&S Risks / Impacts and Mitigation

<table><tr><th>PerformanceStandard</th><th>Description and Potential Impact</th><th>Mitigation</th></tr><tr><td>PS1. Assessment and Management of Environmental and Social Risks and Impacts</td><td>Aspart of its due diligence and as mandated by the IFC Sustainability Policy,the IFC team has screened this project to assess its consistency with IFC''sPerformance Standards.</td><td>IFC''s advice will be providedin a manner consistent with the principles of the relevant PerformanceStandards. The IFC team will assist the client, as the final decision maker,in gaining a good understanding of IFC''s Performance Standards. An update
on the mitigation measures will be provided when the project has beenawarded and the relevant contracts have been signed.</td></tr><tr><td>PS2. Labor and Working Conditions</td><td>As part of its duediligence and as mandated by the IFC Sustainability Policy, the IFC teamhas screened this project to assess its consistency with IFC''s PerformanceStandards.</td><td>IFC''s advice will be provided in a mannerconsistent with the principles of the relevant Performance Standards. TheIFC team will assist the client, as the final decision maker, in gaininga good understanding of IFC''s Performance Standards. An update
on the mitigation measures will be provided when the project has beenawarded and the relevant contracts have been signed.</td></tr><tr><td>PS3. Resource Efficiency and Pollution Prevention</td><td>Aspart of its due diligence and as mandated by the IFC Sustainability Policy,the IFC team has screened this project to assess its consistency with IFC''sPerformance Standards.</td><td>IFC''s advice will be providedin a manner consistent with the principles of the relevant PerformanceStandards. The IFC team will assist the client, as the final decision maker,in gaining a good understanding of IFC''s Performance Standards. An update
on the mitigation measures will be provided when the project has beenawarded and the relevant contracts have been signed.</td></tr></table>

This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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