IDB Invest Helps Boost Employment and Export Growth in Belize through Marie Sharp Fine Foods
IDB Invest has closed a loan of up to US$5 million with a 7-year tenor to Marie Sharp Fine Foods Limited, the largest pepper producer and exporter in Belize. The company is an important micro, small and medium-sized enterprise (MSME) in Belize and an example of women-led entrepreneurial success in the country with an inclusive business model and a high potential for growth.
The financing will be used to fund capital investments in a new filling line to more than double production, as well as greenhouses to increase its own raw pepper production capacity, financing permanent and higher working capital needs.
Pepper production is one of the main agribusiness sectors in the country and a significant share of its production is destined for exports. This financing will contribute to a continued export-led growth of the country.
The investment will not only support Marie Sharp Fine Foods Limited, but also other smaller MSME farmers who are suppliers of necessary raw inputs, generating additional employment opportunities in Belize.
This deal is expected to contribute to three United Nations Sustainable Development Goals (SDGs): Zero Hunger (SDG 2), Decent Work and Economic Growth (SDG 8), and Partnerships for the Goals (SDG 17).
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.