Madrid, February 2, 2021. COFIDES will support Planasa's expansion in Peru through a co-investment loan of the euro equivalent of 3 million dollars - up to 2.65 million euros - funded via its own resources and the FIEX fund. The Planasa Group will use this financing to acquire land in order to commence the production of blueberry plants in the country.

Peru is the leading blueberry producer in the Americas and one of the leading producers in the world. Planasa's range includes  six new blueberry varieties, the result of several years of research, and expects to begin production in the coming months. This is the second Planasa project to be backed by COFIDES after it supported the company to expand its operations in Mexico in 2019.

COFIDES' Chairman and CEO, José Luis Curbelo, said that "COFIDES contributes to improving the competitiveness and innovation of companies by promoting a sustainable growth model”.

For his part, Planasa's CEO, Michael Brinkmann, thanked COFIDES "for its assistance with initiating projects that are going to be crucial for Planasa. Our strategy is going to focus mainly on blueberries, with the six new varieties, and blackberries, so the Peru initiative is one that will drive our growth in the coming years".

INNOVATION AND KNOWLEDGE TRANSFER

This investment contributes significantly to the achievement of Sustainable Development Goal (SDG) 9, concerning industry, innovation and infrastructure. Planasa's investment in R&D is a fundamental part of its core business, promoting innovation in agri-food industry production. This is complemented by the transfer of knowledge and know-how that takes place at the project destination.

ABOUT PLANASA

Based in Valtierra (Navarra), Planasa is an international company which is a leader in the agri-food sector. It specialises in plant research, nurseries and fresh produce. With some 1,500 hectares of land, it is one of the largest nurseries in the world and the world's leading producer of fresh chicory. Planasa's aim is to help growers become more competitive by developing new varieties of berries, garlic and asparagus that satisfy their commercial needs as well as consumer tastes.

ABOUT COFIDES

COFIDES is a state-owned company which has been offering financial support to Spanish companies investing abroad. COFIDES is accredited to the European Union (EU) to manage funds coming from the EU budget, allowing the structuring of transactions with a high impact on development. COFIDES is also accredited to the UN’s Green Climate Fund (GCF) and can therefore structure operations on climate change mitigation and adaptation. Moreover, COFIDES is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and also supports AECID in managing FONPRODE funds. COFIDES’s shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.