Green Peru II

repaid

The project is a 5-year loan with an 18-month grace period to finance a 550-hectare expansion of asparagus cultivation and an increase in the capacity of installations for fresh and canned asparagus, which requires: i) enlarging and relocating the raw materials chamber; ii) building a new chamber for finished fresh products; iii) building a second installation for fresh products; and iv) expanding water purification capacity, as well as using working capital to support a sales increase between 2006 and 2008 (collectively, the "Project"). The estimated total cost of the Project is approximately twelve million United States dollars (US$12 million).With this loan, the IIC is helping to increase the Peruvian agribusiness sector’s export capacity by financing projects that generate a high value-added component and many new jobs. Green Perú, S. A. is a medium-size company that cultivates and processes high-quality agricultural products mainly destined for the European market. This financing would allow Green Perú, S. A. to make the most of its competitive advantages in asparagus production to compete more efficiently in the international market.