PROJECT

Projects

Summary of Investment Information

Project Number

46616

Company Name

BACAO SAS

Date SPI Disclosed

Sep 5, 2023

Country

Colombia

Region

Latin America and the Caribbean

Projected Board Date

Oct 31, 2023

Environmental Category

B - Limited

Status

Pending Disbursement

Last Updated Date

Jul 27, 2024

Department

Regional Industry MAS LAC & EUR

Industry

Agribusiness and Forestry

Previous Events

Approved : Mar 14, 2024
Signed : Jul 23, 2024

Sector

Coffee, Cocoa, Tea

Additional Project Attributes

Blended Finance

Project Description

The proposed investment consists of a financing package of up to US$42 million to Bacao SAS (“Bacao” or the “Company”) to finance the development of approximately 3,800 hectares of cacao plantations and post-harvesting facility in the Meta region of Colombia (the Project).

Bacao is an agroforestry cacao company that seeks to produce sustainable cacao by creating inclusive and climate-smart productive ecosystems that will not only contribute to rehabilitate degraded lands but also benefit local communities.

Associated Advisory Engagement

Five-year upstream-tagged Advisory Services project (Project # 603625) centered on working with strategic cacao producers in Colombia to strengthen their operations and value chains. As part of this initiative, IFC created a partnership with Bacao, to help the company increase its supply, productivity and quality of cocoa while ensuring sustainability.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation