IFC invests in Camposol to boost the agricultural sector in Peru
Summary
The International Finance Corporation (IFC), a member of the World Bank Group, announced its participation in a joint financing package of US$400 million for Camposol, one of Perus leading agro-exporters.The goal is to strengthen the countrys sustainable agribusiness, promote the creation of quality formal jobs, and improve the sectors climate resilience. The rest of the financing package includes contributions from IDB Invest, Scotiabank, and BBVA.The funds will support the implementation of Camposols blueberry varietal renewal program, based on proprietary genetics developed locally. This program is crucial for adopting varieties with higher yields, greater pest resistance, and, most importantly, improved water-use efficiencyaligning with IFCs priority to mitigate water and climate risks in agriculture.The investments will enable productivity improvements in avocados and drive the adoption and scaling of sustainable agricultural innovations that strengthen Camposols competitiveness in key global markets, increasing projected export volumes by more than 30% between 2025 and 2030.IFCs participation in this historic financing is a clear endorsement of Perus agribusiness as a driver of sustainable and inclusive growth, said Matilde Bord\xf3n, IFC Country Manager for Peru and Ecuador. By supporting Camposol in creating formal jobs and transitioning to more resilient technologies, we are directly investing in the long-term prosperity of Perus rural communities.The financing is contingent upon the implementation of a robust Environmental and Social Action Plan (ESAP) that will address critical areas such as water management, biodiversity studies, prevention of workplace heat stress, and obtaining sustainable agriculture certifications.With this financing package, Camposol anticipates export volumes will increase by more than 30% between 2025 and 2030. Additionally, the company projects the creation of more than 2,500 direct jobs, with female participation above the national average in the agricultural sector.