IIC Finances Expansion Project For Export-Oriented Agribusiness In Peru

02/05/2007

The US$1,750,000 loan will enable Green Perú S.A. to double the area it plants and harvests over the next three years

Washington, D.C.–On February 6, 2007, the Inter-American Investment Corporation (IIC) approved a US$1,750,000 loan to Green Perú S.A. The loan will enable the company to increase its scale of operations and boost competitiveness by increasing and diversifying its export markets.

Green Perú S.A. was established in 1999 to produce white and green asparagus for export. The company diversified its portfolio in 2002 by growing grapes and avocados. In 2004 it build a canning plant that has allowed Green Perú S.A. to increase exports, generate more employment, and raise productivity.

According to Jorge Ciurlizza, the chief investment officer in charge of the operation, "with this loan, the IIC is seeking to support the development of the Peruvian agribusiness sector by financing projects that have a high value-added component, create employment, and increase certified quality exports."

The operation will have a significant employment generation impact because approximately 60 jobs are created for every 100 hectares planted per growing season. Green Perú S.A.'s products are certified for quality by international entities such as EUREPGAP and HACCP, thanks to the company's good agricultural and environmental practices and its appropriate handling and application of agrochemicals.

The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) 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 member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC's activities, please visit www.iic.int.

Contact: Jorge Ciurlizza (in Washington D.C.)

Telephone: (202) 623-3932

Email: jorgeci@iadb.org