IIC Renews Its Support For The Agricultural Sector In Chile

11/15/2011

Washington, D.C. — On November 15, 2011, the Inter-American Investment Corporation (IIC) approved a loan of up to US$10 million to the Chilean firm Compañía Agropecuaria Copeval S.A. (Copeval). Copeval will use the funds for working capital.

Ana María Orellana, the IIC senior investment officer in charge of the operation, explained: "With this operation, our third with Copeval, the IIC continues to support Chile’s economy and agricultural sector. This third loan is attributable to the success of our previous transactions with Copeval, which achieved their goals and contributed to expanding the company’s regional reach, as well as its network of branches in Chile. This operation enables us to support Copeval's growth and competitiveness strategy."

About Copeval

Copeval markets agrochemicals, fertilizers, seed, merchandise, motorized machinery, irrigation equipment, animal feed, veterinary products, and other farming inputs. It also provides financing for small and medium-scale farmers as well as agriculture-related services. For more information, visit www.copeval.cl

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved 49 operations, channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, visit www.iic.org

Contact: Ana María Orellana

Telephone: + (562) 431-3707

Email: anamariao@iadb.org