IFC's investment will support Copeval to offer financing to its network of farmers to cover their pre-harvest working capital needs for inputs and services, at a time when available financing has been impacted by the COVID-19 pandemic.
Copeval is Chile's leading agricultural input distributor, with more than 60 years of track record in the industry. It reaches more than 37,000 farmers through its 24 branches and distribution centres, strategically located across the country's agricultural regions. The company offers a “one-stop-shop” to farmers, providing agrochemicals, fertilizers, seeds, agricultural machinery, irrigation equipment, intermediation and logistics services, fuel, animal feed, technical assistance, and training.
Photo: IFC
Copeval is Chile's leading agricultural input distributor, with more than 60 years of track record in the industry. It reaches more than 37,000 farmers through its 24 branches and distribution centres, strategically located across the country's agricultural regions. The company offers a “one-stop-shop” to farmers, providing agrochemicals, fertilizers, seeds, agricultural machinery, irrigation equipment, intermediation and logistics services, fuel, animal feed, technical assistance, and training.
The investment is part of IFC's global efforts to combat the economic impacts of COVID-19. As part of the World Bank Group's response to the pandemic, IFC launched in 2020 an US$8 billion package of fast-track financing to its clients to help sustain economies, support businesses, and protect jobs all over the world.
“IFC's investment will contribute to protecting the livelihoods of many small and medium farmers operating in rural regions of Chile by supporting the continued operations of their leading inputs distributor,” said David Tinel, IFC Country Manager for Argentina, Chile, Paraguay, and Uruguay. “We believe that this investment also helps promote greater market resilience, by broadening the availability and access to financial products and services that enable viable players to withstand shocks or stresses.”
Copeval is the latest of a series of companies in Chile benefitting from IFC investments, including microfinance institution Fondo Esperanza and banking leader Banco Santander. In the last fiscal year, IFC has invested US$318 million in Chile to support the country's private sector through innovative financial products and mobilization, while encouraging corporate social responsibility and environmentally sustainable business practices.
This article was originally published by IFC.
