IFC, a member of the World Bank Group, BID Invest, a member of the Interamerican Development Bank group, and Rabobank, will finance $ 100 million of San Miguel, the largest citrus exporter in the southern hemisphere. This funding complements San Miguel's capital structure, whose export business is, in turn, a major employer of direct and indirect labor in every community in which it operates. In Argentina, Tucumán employs more than 4,500 people each year.
"We are proud to continue our work with San Miguel to expand its operations, and society is an example of how Argentine companies can successfully compete in the world and create jobs where they are most needed," said David Tinel, IFC Regional Manager. for the southern cone. "IFC is committed to promoting sustainable agriculture in Argentina and Uruguay and to strengthening the export sector to contribute to the growth and strengthening of these countries' economies."