Project detail - AGROVISION PERÚ S.A.C.


Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Agro Vision Peru SAC (“Agrovision”) is a high growth, high impact, super-fruit farming company with large-scale land and water assets and operations based in Northern Peru. The vertically integrated grower-packer-shipper has developed and nearly fully planted its 2,000 hectares in Olmos, in addition to over 500 hectares in adjacent area landholdings, in the Lambayeque region, where it is on track to increase plantings to 4,000 hectares by 2022. Through licenses and strategic relationships with leading breeding programs globally, Agrovision produces conventional and organic blueberries, table grapes, asparagus and avocados. It produces premium varieties of blueberries, making it the company with the most diverse offering of premium and proprietary commercial varieties in Peru. The Company is Global GAP, SMETA, FSMA certified and has Asia, North America and Europe as key export markets.

What is our funding objective?

FMO is offering a USD 15mln subordinated loan (non-convertible) to be financed out of the Building Prospects fund to finance part of the capex expansion plan. The investments will be related to the expansion of its packing and housing facilities, equipment & machinery and development of crops. As mentioned, the target is to further develop the land to over 4,000ha.

Why do we fund this investment?

FMO provides financing that commercial banks are not capable to, due to the subordinated character of the loan as the primary source and tenor as the secondary source. FMO’s network enables the company to consider alternative techniques for desalination of irrigation water. On the social side FMO has been advising the company on how to work with local communities on additional development opportunities. FMO will support possible AWS certification for sustainable water management.

What is the Environmental and Social categorization rationale?

Agrovision Peru is a category B+ client. FMO’s preliminary environmental and social due diligence indicates that the investment may have impacts which must be managed in a manner consistent with the following Performance Standards: - PS 1: Assessment and Management of Environmental and Social Risks and Impacts; - PS 2: Labour and working conditions; - PS 3: Resource Efficiency and Pollution Prevention - PS 4: Community Health, Safety and Security; - PS 5: Land Acquisition and Involuntary Resettlement; - PS 6: Biodiversity Conservation; and - PS 8: Cultural Heritage. Furthermore, PS 7 is not triggered since indigenous people are not present in the region, and are not impacted, directly or indirectly, by the financed activities. FMO will periodically review the project’s compliance with the Performance Standards.

More investments

Date Total FMO financing
10/5/2022 USD 0.04 MLN
9/30/2020 EUR 0.08 MLN
Latin America & The Caribbean
Agribusiness, Food & Water
Publication date
Effective date
Total FMO financing
USD 15.00 MLN
Building Prospects
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)