A US$10 Million IIC Loan To Compañía Agropecuaria Copeval, S.A. Will Support An Agricultural Supply Chain In Chile
07/09/2007The financing will benefit small and medium-size Chilean farmers who have no access to bank credit
Washington, D.C.- On July 10, 2007, the Inter-American Investment Corporation (IIC) approved a US$10 million loan to Compañía Agropecuaria Copeval S.A. (Copeval), a Chilean agrochemical company that also provides financing and agriculture-related services to small and medium-size farmers.
This is the IIC's second loan to Copeval. The first, in the amount of US$5 million, was granted in April 2006 and disbursed in May 2006. Copeval is expanding its regional presence and needs to finance its working capital. At year-end 2006 Copeval had nineteen branch offices; by 2010 it expects to have twenty-five branches and cover the entire country.
According to Ana Maria Orellana, the IIC investment officer in charge of the operation, "This loan is in line with the IIC's policy to finance supply chains. The purpose of the loan is to support the growth of a company that meets the needs of a Chilean agricultural supply chain made up of small and medium-size farmers who have no access to bank credit."
Although Copeval is a large company, the principal beneficiaries of the financing provided by the IIC are small and medium-size farmers. In addition to financing, they will be able to acquire agricultural goods and production inputs because Copeval has more than 25,000 items in stock and serves many sectors and areas throughout Chile.
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 encouraging 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: John Beckham
Telephone: (202) 623-3984