Latin American Agribusiness Development Corporation S.A. (LAAD II)
The proposed project is a colending facility of US$12 million made up of IIC participation of US$6.0 million and LAAD participation of US$6.0 million. The facility will promote private sector investment and employment in the rural areas of countries in Latin America and the Caribbean through the financing of small and medium-size export-oriented companies in the agribusiness sector.
LAAD is a successful private investment and development company with more than 30 years of experience with headquarters in Miami, Florida and several regional offices strategically located in Latin America and the Caribbean. LAAD finances and develops private agribusiness projects in Latin America and the Caribbean involving all phases of production, processing, storage, services, technology and marketing in the fields of agriculture, livestock, forestry, and fishing.
This facility is the second operation the IIC undertakes with LAAD. The first operation was approved in 1998.
This is a Category III project according to IIC’s environmental and labor review procedures because specific impacts might result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. All of the subprojects considered for financing under the colending program must comply with the environmental and labor laws, regulations, and standards established in their respective jurisdictions, as well as with applicable IIC policies. As part of the evaluation process, beneficiary companies will be subject to an environmental and labor review.