Peru’s Ica Pacific S.A. Receives A Loan Of Up To US$2.5 Million From IIC

06/06/2010

The IIC will be supporting the company’s growth and long-term production capacity

Washington, D.C. - On June 7, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$2.5 million to Ica Pacific S.A. (IPSA) in Peru to finance part of the company’s sowing of green asparagus and pomegranates as well as the purchase of land, machinery, and equipment.

IPSA is an agribusiness that grows green asparagus and pomegranates. Its sponsors have formed a group of companies dedicated to growing, producing, and exporting asparagus since 1986 and pomegranates since 2002.

It is expected that the IIC will also provide technical assistance to help IPSA transform all of its current crop waste into humus compost, allowing the company to recycle nutrients and improve the soil while lowering production costs.

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 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.



Contact: Olga Lucía De Narváez

Telephone: + (571) 325-7052

Email: olgadena@iadb.org