Favorita WC

completed

Favorita Fruit Company (Favorita or the company), a holding company, is one of the leading banana growers and exporters in Ecuador. The company operates other wholly-owned subsidiaries whose activities include trading and shipping bananas, producing plastic bags, providing fumigation services, and importing and distributing fertilizers. It has requested IFC’s assistance in financing a corporate-wide investment program which involves: - replanting efforts to change the banana variety from Valery to Williams - redesign and modernization of equipment and machinery; and - refinancing short and medium term debt The project is aimed to: - continue reducing operating costs by increasing the banana yield per hectare; - carry out needed maintenance investments and equipment upgrades to maintain the company’s competitive position in the global market; and - strengthen Favorita’s financial structure in order to firm-up its banana/overall operations in Ecuador.