MEXICO – On January 13 Proteak Uno, S.A.B. de CV (Proteak), the leading Mexican company in the international forestry sector, announced it secured a USD 65 million credit from the International Finance Corporation (IFC) and the Promotion and Participation Agency for Economic Cooperation (Proparco).
The resources 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 of the states in Mexico 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".
Amaury Mulliez, General Director ofProparco, added: "We are very pleased to be partnering, along with the IFC, with a dynamic business such as Proteak in its next phase of growth. It is fully in line with Proparco's green and inclusive growth mandate in Latin America to support a company, which has developed a sound expertise in the development of certified plantations and has contributed to the implementation of the highest forestry standards in Mexico. Our financing will allow Proteak to expand its activities and support its diversification strategy, which will contribute to the reforestation of degraded areas and the reduction of carbon emissions."
IFC, an institution of the World Bank Group, is the leading international development institution exclusively dedicated to the private sector in emerging markets.Proparcois a subsidiary of Agence Française de Développement (AFD) focused on private sector development. It has been promoting sustainable economic, social and environmental
Proteak is the largest forest-industrial company in Mexico and Central America. With 18,000 hectares of plantations developed in strict adherence to the guidelines of "Forest Stewardship Council (FSC) in Mexico, Costa Rica and Colombia. It exports its products to more than 15 destinations in America, Europe and Asia. In 2016 Proteak inaugurated its MDF production facility under the brandTecnotablawith an annual production capacity of 280,000 m3.
