IDB Invest Partners with CMI Alimentos to Increase and Protect Food Security in the Region
IDB Invest closed a $40 million financing deal with Alimentos de Corporación Multi Inversiones (CMI), one of the main food and agribusiness groups in Central America and the Dominican Republic, to increase and protect food production in the region.
Given the challenges facing the region including rising prices, higher logistics costs and disruptions in the global supply chain, IDB Invest will play a key role by providing regional financing to protect food supplies in domestic markets and strengthen market links with the regional supply chain.
Likewise, as CMI's production grows, its purchase of agribusiness inputs will also increase, benefiting its supply chain and adding some 5,000 direct jobs by 2026, to the more than 40,000 current ones.
This project reinforces IDB Invest’s firm commitment to continue working with strategic partners such as CMI to create impact in sustainable development across the region.
Additionally, this project promotes the traceability of the supply chain, thanks to CMI's Environmental and Social Action Plan supported by IDB Invest.
The deal is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): No Poverty (SDG 1), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), 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.
Alimentos de Corporación Multi Inversiones (CMI) is a multi-Latin family corporation with 100 years of history, which generates economic, social and environmental value in the region, made up of more than 40,000 employees and with a presence in more than 16 countries, many of them located in the Latin American region and the United States. With two Business Groups, CMI Alimentos and CMI Capital, it creates a sustainable impact in the communities where it operates. Through CMI Alimentos, it develops products focused on food and nutrition for Latin American families and has businesses such as wheat and corn flour mills, pasta and cookie production; poultry, pork, processed and sausage manufacturing industry; balanced food for animals and pets; and restaurant industry with its brands Pollo Campero and Pollo Granjero, among others.