IIC Supports Agriculture and Agribusiness Sector in Ecuador with Loan of up to US$4 million


Washington, D.C. — On April 3, 2012, the Inter-American Investment Corporation (IIC) approved a loan of up to US$4 million for the Ecuadorian enterprise Agripac S.A. to increase its production of animal feed and expand its crop-dusting operation.

“This project will enable Agripac to broaden the services it already provides to small- and medium-scale Ecuadorian farmers, boosting its capacity to promote development in Ecuador,” said Javier Hernández, IIC investment officer in charge of the operation.

Agripac is a leading importer of fertilizers and producer of animal feed and agrochemicals. It contributes over US$190 million to the country's economy and collaborates with other institutions to offer financing to small agribusinesses, generating a value chain that benefits the entire sector.

With 40 years in the Ecuadorian market, Agripac provides jobs for more than 1,100 people and has a network of 160 sales points throughout the country.

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 2011, the IIC reached US$1.48 billion in assets and approved 71 operations channeling US$464.7 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.org.

Contact: Javier Hernández

Telephone: (202) 623-3992

Email: javierh@iadb.org