RSE COVID LAAD

active

The proposed investment consists of an up to US$30 million unsecured loan 5 year tenor including 2 year grace to Latin American Agribusiness Development Corporation S.A. and its wholly owned subsidiaries LAAD Americas N.V. and Agronegocios LAAD, S.A. de C.V., SOFOM, E.N.R., to continue to support its existing lending program in the midst of COVID 19.The project will help IFC to continue to support access to finance to agribusiness SMEs throughout Latin America, most of these are family owned businesses which have traditionally been underserved due to high perceived risks, and which are currently undergoing stress due to COVID 19 outbreak. The project will provide positive impact on rural communities in the region by providing access to finance to farmers and by helping maintain employment levels. In FY 19 LAAD supported 343 projects in 15 countries, which created over 9,200 new jobs.