Proteak Uno, S.A.B. de C.V. announced that the International Finance Corporation (IFC) and the Promotion and Participation Agency for Economic Cooperation (PROPARCO) granted a multilateral credit facility for $65 million, an unprecedented event in Mexico.
This facility will be utilized to support the Company's rapid growth through the sustainable development of up to 10,000 new hectares of commercial forest plantations and restructure Proteak's current debt with improved conditions.
Ary Naim, Director of IFC for Mexico, commented: "This new IFC support to Proteak reflects our long-term commitment to a company that has developed a successful model of forest production that is managed under the highest international standards of environmental protection. It will also contribute to diversify the economy on the regions where Proteak operates, as well as to the efficient integration of local producers through its Small Producers program. We are pleased to be part of this project that seeks to boost productive enterprises and job creation in Mexico".
Proteak Uno, S.A.B. de C.V. is the leading Mexican company in the international forestry sector.
