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The Project involves the development and operation of a new food manufacturing plant in Santarém, Portugal, (PT185, less developed region) for an SME (Group Fresh 52) constructed on a greenfield site. The Project includes (i) a baby carrot processing line, (ii) a whole carrot processing line, (iii) ancillary equipment to operate the plant and (iv) specific agri-equipment.
The Project will contribute to the objective of regional job creation, direct and indirect, as well as economic, social and territorial cohesion. It also contribute to sustain farmers and agricultural cooperatives in rural areas, support the rural economy development, and in financing an innovative SME, it addresses the market failure of information asymmetry. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest (SME & Midcaps). Additionally, the Project is aligned with the EIB low carbon framework, particularly with Table E, bioeconomy.
The Bank will require that the Project financed under this Operation complies with the applicable domestic and EU legislation, as appropriate. The Promoter will transmit to the satisfaction of the Bank an environmental and social management system to ensure that adequate capacity, systems and processes are in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks associated with the operation of the plant.
The Promoter will be requested to comply with applicable national and EU legislation, as appropriate.