IIC supports the food, bottling, and beverage sector in Chile

03/22/2011

Washington, D.C. - On March 22, 2011, the Inter-American Investment Corporation (IIC) approved a loan of up to US$2 million to Patagoniafresh S.A. in Chile. This loan will be provided in parallel with financing from local banks. Its proceeds will be used to refinance current short-term liabilities, finance working capital requirements, and make investments to improve the energy and production efficiency of the company’s plants.

According to Ana Orellana, IIC Senior Investment Officer in charge of the operation, "This operation enables the IIC to support a key sector in Chile’s economy and offers an opportunity to help strengthen the production chain formed by Patagoniafresh and its fruit growers, which are mostly SMEs. The operation is expected to have a positive impact on the development of the private sector by helping to preserve the company’s competitiveness, a key element in generating foreign exchange and creating jobs."

About Patagoniafresh S.A.

Patagoniafresh manufactures fruit essences and juice concentrates from apples, grapes, berries, and other fruits. It is the leading exporter of non-citrus juice concentrates in the southern hemisphere and a strategic supplier of large markets seeking to reduce their climate-related risks in either hemisphere. Juice concentrates are exported primarily to the United States, Canada, and Mexico.

Patagoniafresh is controlled by Empresas Iansa S.A., a reputable Chilean agribusiness company. For more information on Patagoniafresh, please visit www.patagoniafresh.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 forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int

Contact: Ana María Orellana (in Chile)

Telephone: + (562) 431-3707

Email: anamariao@iadb.org