T&T Fruits
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
Investment field
Enterprises
Activity
Organisation
T&T Fruits
Domicile
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
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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.
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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.
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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
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Gender
Although not 2X eligible, developing a gender strategy is included in the ESAP.
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