Project detail - UPALA AGRICOLA S.A.

UPALA AGRICOLA S.A.

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Who is our client

Upala Agricola S.A. is an integrated company that grows fresh pineapple following certified quality standards. Founded in 1996, the company was acquired in 2008 by a group of entrepreneurs interested in the sustainable development of pineapple growing and in the environmental protection and support of neighbouring communities.

Funding objective

FMO's funds will be used by Upala to further expand their pineapple production area. This includes related investments in land preparation, seeds and equipment.

Why we fund this project

Pineapples are Costa Rica's main agricultural export product. The pineapple industry is therefore an important source of employment and tax income for the country. Investment in expansion of sustainable pineapple production requires long-term financing, which is not readily available locally. By providing this long-term finance FMO supports the further development of a sustainable pineapple industry in Costa Rica.

Region
Latin America & The Caribbean
Country
Costa Rica
Sector
Agribusiness, Food & Water
Signing date
4/12/2013
Total FMO financing
USD 13.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B+