IDB Invest, a member of the Inter-American Development Bank (IDB) Group, signed an integration and underwriting commitment with an investment fund administrator (República Administradora de Fondos de Inversión, S.A.) for up to $30 million to establish the Interagrovial Financial Trust. The agreement will increase access to financing for agricultural and forestry producers in Uruguay.
The trust will raise funds through a private offering of debt securities acquired by IDB Invest. The funds will be used to finance the purchase of agricultural machinery with new technology to Interagrovial customers, with financing terms of up to seven years.
This operation potentially contributes to two of the United Nations Sustainable Development Goals: Decent work and economic growth (SDG8) and Responsible production and consumption (SDG 12).
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects so they can achieve financial results and maximize the region’s economic, social, and environmental development. With a portfolio of $12.1 billion in assets under administration and 329 clients in 21 countries, IDB Invest provides innovative financial solutions and advisory services in response to its clients’ needs in a variety of sectors.
Interagrovial is a Uruguayan family business focused on the distribution of agricultural machinery and equipment since 1967, exclusive representative of the agricultural, forestry and construction lines of John Deere in Uruguay, since 1984. Its mission is to optimize the profitability of all its customers through lasting relationships, offering world-class solutions (products and services), based on principles of integrity, commitment, innovation and quality.