IIC Supports The Food, Bottling And Beverage Sector In Brazil
04/14/2004WASHINGTON, D.C, - On April 14, 2004, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a US$6 million loan for the expansion of Dori Indústria e Comércio de Produtos Alimentícios Ltda. Dori Indústria manufactures candy and chocolate and peanut products to meet the domestic and international demand. The expansion project seeks to increase the company's storage capacity, bring in new equipment and machinery, and upgrade and expand the existing facilities in the states of São Paulo and Paraná.
Financing from the IIC will enable the company to maintain and even enhance its competitive position in an economic sector in which international companies have a significant share. The investment will enlarge the company's storage and production capacity and will bring about a number of improvements in the company's managerial and accounting procedures, as well as its administrative and environmental practices. The expansion project will create sixty-nine direct jobs and boost indirect employment throughout the different distribution channels that the company uses to deliver its product to its 60,000 clients. The expansion project will also generate some US$65 million in value added, thus contributing US$3 to Brazil's GDP for each dollar invested.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank 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 borrowing member countries by stimulating 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, visit its Web site at www.iic.int.
Contact: Steven Reed/Santiago Cat
Telephone: (202) 623-3981