Ica Pacific S.A.

repaid

Ica Pacific S.A. (IPSA) is an agribusiness established in 1995. Its principal activity is growing green asparagus and pomegranates. The sponsors are Jorge and Manuel Checa, who have formed a group of companies dedicated to growing, producing, and exporting asparagus since 1986 and pomegranates since 2002.IPSA has been expanding the area it cultivates in recent years. It currently has 232 hectares of which 125 are sown with pomegranates and 106 with asparagus. The project consists of financing part of the sowing of pomegranates and asparagus, as well as the purchase of land, machinery, and equipment. The project was partially and temporarily financed with short-term funds.IIC funds will be used primarily to replace short-term debt. With this loan the IIC will be supporting the company’s growth and its production capacity by providing long-term financing for long-growing crops. The proposed operation consists of a loan of up to US$3,450,000.