The loan will be used for general corporate purposes. It fulfills Banco Agropecuario's U.S. dollar funding requirements for the year.
"This important transaction continues to demonstrate Bladex’s commitment to supporting its clients in securing medium-term funding," Felipe Suarez, executive manager of Loan Structuring & Distribution at Bladex, said. "We are pleased to be partnering up with ICBC Peru and delivering a timely solution to Agrobanco, to finance Peruvian agricultural trade-related transactions."
Bladex is a multinational bank originally established by the central banks of Latin-American and Caribbean countries to promote foreign trade finance and economic integration in the region. It is based in Panama, but has offices in Argentina, Brazil, Colombia, Mexico, Peru and the U.S.
ICBC Peru Bank is a subsidiary of the Industrial and Commercial Bank of China Ltd., the largest commercial bank in China with a presence in 41 countries worldwide. It is the first Chinese-owned bank to be established in Peru.