The project involves building port warehousing facilities in Phu My (Vietnam) and Imbituba, a small Brazilian port that is aiming to become a regional export hub.
This operation is part of Proparco’s mission to develop infrastructure – logistics infrastructure for the hinterlands of smaller, secondary ports - and manufacturing facilities (the products distributed by Manuchar are needed by manufacturing and agri-food industries).
This project will enhance the port infrastructure of both of these countries through better equipment that boosts capacity and quality and provides more secure storage facilities. It will also create / maintain 180 local jobs (120 in Brazil and 60 in Vietnam). Finally, Proparco is helping Manuchar to improve its CSR risk management processes.
This loan is part of a €20 million co-financing arrangement being backed by Proparco and SBI (the Belgian Corporation for International Investment). This Proparco-SBI initiative will provide Manuchar with subordinated, medium-term finance that is very difficult to obtain from local or regional banks.