The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB), has completed the first disbursement of a $50 million revolving corporate loan to Sucres et Denrées S.A (Sucden) to support sustainable agricultural and industrial practices in the sugarcane sector in Brazil.
The loan will enhance liquidity in the sector through an innovative financial structure that will provide long-term funding to sugarcane producers for the renovation and maintenance of sugarcane fields as well as upgrades in industrial facilities. This will improve the productivity and quality of cane available for processing and the efficiency of sugar production.
The IIC will also support Sucden in the implementation of an environmental and social management system to promote sustainable practices within the industry and to identify potential biodiversity, energy efficiency or social shared value interventions.
About the Inter-American Development Bank (IDB)
The Inter-American Development Bank is a leading source of long-term financing for economic, social and institutional projects in Latin America and the Caribbean. Besides loans, grants and guarantees, the IDB conducts cutting-edge research to offer innovative and sustainable solutions to our region’s most pressing challenges. Founded in 1959 to help accelerate progress in its developing member countries, the IDB continues to work every day to improve lives.
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $7 billion under management and 330 clients in 20 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.
- José Luis Lobera