US$20 million for Argentine agroindustrial sector

(Buenos Aires, September 14, 2010).- CAF granted an uncommitted line of credit and disbursed a US$20 million loan in favor of the Argentine company Vincentin, S.A.I.C. for pre-financing of exports of soybeans and byproducts.

Álvaro García, CAF director representative in Argentina, said this type of operation stimulated the market and generated new opportunities for development. "This is why CAF encourages initiatives that promote growth of private enterprise in the economies of its shareholder countries, and thus generate more jobs and increase production of goods and services for the population."

"The sector in which this business operates - the CAF executive added - is highly competitive and with positive prospects, apart from being one of the most important in Argentine in terms of generation of jobs and foreign exchange."

The operation is co-financed with Banco BNP Paribas Argentina since, in the CAF business policy guidelines, alliances with banks which operate in Argentina are essential in order to supplement the funds they offer to public and private companies.

Vicentin S.A.I.C is one of the leading companies in soybean processing and export of flour, pellets and crude soybean oil. The company has been in the market for over 80 years during which it has expanded its processing, storage and logistics capacity to become one of the largest in this sector in Argentina, along with Bunge, Cargill, Molinos, AGD, and Louis Dreyfus.

Vicentin's main activity is oilseed processing and production which is mosthly placed on export markets along with their biodiesel production.