IIC Approves A Loan Of Up To US$5 Million To Compañía Agropecuaria Copeval S.A. In Chile To Finance Working Capital
05/08/2006Washington, D.C. - On May 9, 2006, the Inter-American Investment Corporation (IIC) approved a loan of up to US$5 million to Chile’s Compañía Agropecuaria Copeval S.A. This loan is in line with the Corporation's strategy to finance supply chains.
The purpose of the loan is to financially support the growth of Copeval S.A., a company that meets the needs of a Chilean agricultural supply chain made up of small and medium-size farmers who have no access to bank credit and who finance their inputs and agrochemicals with credit from Copeval S.A. The financing provided by the IIC will enable small and medium-size farmers to purchase agricultural goods and production inputs from the distributor with the widest range of products. This opportunity for Copeval to grow comes with the increase in agribusiness activity in Chile, the result of free trade agreements and regional expansion. Copeval S.A. is like a farm credit bank. Financing with competitive rates and terms enables Copeval S.A. in turn to provide financing to the more than 6,000 SMEs that are a part of its clientele.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.
Contact: Ana Maria Orellana/John Beckham
Telephone: + (562) 431-3707