Salvadorian Company To Increase Poultry Production with IIC Support
Loan of US$1.1 million will enable Avícola Campestre S.A. de C.V. to build a new barn for raising chickens
Washington, D.C., Washington, DC, December 11, 2015 — The Inter-American Investment Corporation (IIC) has approved a loan of up to US$1.1 million to Avícola Campestre S.A. de C.V. to refinance the debt—from short to long term—that it took on to build and equip a new barn with capacity of 70,000 chickens, located on one of the company’s farms in the city of San Miguel, El Salvador.
The IIC operation also contains a technical assistance component to strengthen Avícola Campestre’s current environmental and health and safety performance.
“With this financing, the IIC seeks to support the poultry sector, which is important for El Salvador’s economy and generates a significant portion of the country’s rural jobs. In 2014, the sector accounted for 1.7 percent of the country’s GDP,” said Mónica Navarrete, the IIC senior investment officer in charge of the operation. “This loan will also help strengthen this company’s competitive position as it consolidates its integration in the local market, and help create close to 100 jobs.”
Avícola Campestre is a Salvadoran company founded in 1998 that fattens chickens and processes, packages, distributes, and sells chicken meat. It currently has four farms with 19 barns for a total capacity of 606,000 broiler chickens.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). The Corporation provides companies with financing in the form of equity investments, loans, and guarantees, as well as with innovative technical assistance, advisory services, and knowledge products. In 2014, the IIC approved 64 operations totaling $426.3 million. Since its inception, the IIC has approved more than 920 loan and equity investments for SMEs and financial intermediaries, for a total of US$5.63 billion. An additional $3.7 billion has been mobilized through cofinancing and syndication agreements. For additional information on the IIC’s activities, visit www.iic.org.
Contact: Mónica Navarrete
Telephone: + (503) 2233-8901 in San Salvador, El Salvador