T&T Fruits

Debt : January 2022

BIO has granted a USD 3.7 M loan to T&T Fruits, a Peruvian agribusiness.

Amount

€ 3,290,000.00

Type of investment

Debt

Development impacts

Local economic growth
Food security & rural development
Promotion of ESG best practices
Gender

Beneficiary locations

Latin America and Caribbean: Peru

Investment field

Enterprises

Activity

C10.33 Other processing and preserving of fruit and vegetables

Organisation

T&T Fruits

Domicile

Peru

More investments in

T&T Fruits

Subsidy € 7,548.63 (2021-2021)

T&T Fruits SA is a Peruvian family-owned company specialized in the processing and the packaging of premium fresh fruits (mainly mandarins and avocados) for export.

Founded in 2014, the company has built a packaging facility in Huaral (90km North of Lima), strategically located near Callao and Chancay port, with a processing capacity of 1,100 containers per year (2021). Fully equipped, the current plant is designed to reach a packaging capacity of 1,650 containers a year.

Development impacts

Local economic growth
The project aims at creating decent jobs, both directly and indirectly. By increasing its packaging capacity, T&T will give opportunity to exporters to grow their activities giving opportunities to additional smallholder growers to sell their produce to exporters over the next 2 years.

T&T participates in the dynamization of the value chain, indirectly contributing to the growth of logistic companies, cardboard boxes producers and other suppliers.

By helping exporters, T&T contributes to increasing USD revenues into Peru, supporting export revenues and trade balance improvement.
Food security & rural development
The project will have a positive impact on rural development, directly by providing job opportunities, and indirectly as it allows more fruit exports, increasing economic opportunities for Peruvian smallholder farmers.
Promotion of ESG best practices
Workers at T&T benefit from good treatment. Among permanent staff, turnover is low at 10%.

BIO's intervention will help the company to further institutionalize
Gender
Although not 2X eligible, developing a gender strategy is included in the ESAP.