The International Finance Corporation of the World Bank is lending US$30m to help Argentina’s largest oilseeds exporter tide over its suppliers until it secures revenue from selling this year’s harvest overseas.
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The IFC has also secured Aceitera General Deheza (AGD) US$30m in financing from Vereins Und Westbank A.G. and Rabobank International.
The loan is the IFC’s first investment in Argentina since the onset of the country’s ongoing economic crisis and is designed to strengthen AGD’s ability to run its soybeans purchase programme during the peak months of the current harvest. This pre-export loan facility is secured by AGD’s export contacts.
By Keith Nuthall, just-food.com correspondent
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