This 10-year facility will be utilized to support the Company's rapid growth through the sustainable development of up to 10,000 new hectares of eucalyptus and teak forest plantations
Amaury Mulliez, Deputy Chief Executive Officer, Proparco, said: "We are very pleased to be partnering, along with the IFC, with a dynamic business such as Proteak in its next phase of growth. It is fully in line with Proparco's green and inclusive growth mandate in Latin America to support a company, which has developed a sound expertise in the development of certified plantations and has contributed to the implementation of the highest forestry standards in Mexico". Proteak's plantations are certified FSC (Forest Stewardship Council, which is the highest international standards in the forestry sector) and a part is certified by the Voluntary Carbon Standard (VCS).
Our financing will allow Proteak to expand its activities and support its diversification strategy, which will contribute to the reforestation of degraded areas and the reduction of carbon emissions, added Amaury Mulliez.
This project seeks also to boost productive enterprises and job creation in Mexico. It will contribute to diversify the economy on the regions where Proteak operates, as well as to the integration of local producers through its “Small Producers program”.
Proteak is the largest forest-industrial company in Mexico and Central America. For more information, go to: www.proteak.com
IFC, an institution of the World Bank Group, is the leading international development institution exclusively dedicated to the private sector in emerging markets. For more information, visit www.ifc.org.