In September 2012, OeEB signed a long-term credit line in a total of USD 15 million for financing agricultural enterprises in Central America.
|Project name||Latin American Agribusiness Development Corporation (LAAD)|
|Region||Central America and the Caribbean|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||USD 15 million|
|Projekt partner(s)||Latin American Agribusiness Development Corporation (LAAD)|
Until 2050 the population will grow rapidly. In order to provide nutrition supply in 2050 the food production has to be enlarged by 70%. Investments that increase the productivity are urgent because the current demand has to be covered by the available and limited ground. Especially in developing countries the productivity suffers under low investments and insufficient new technology because of a lack of financing possibilities.
With the credit line OeEB provides access to financing options for agriculture enterprises in Central America and secures that LAAD has furthermore the ability to offer long-term credits to their clients. Thereby OeEB supports necessary modernization in the agricultural sector in Central America as well as the maintenance and creation of employment. Especially in agrarian areas poverty appears very distinctive. Agriculture clients who use genetically modified seeds will be banned from receiving financing resources of OeEB.