LAAD’s mission is “To finance small and medium sized agribusiness projects to promote sustainable economic and social development in Latin America”. Although our initial objective is to concentrate on each project’s loan repayment capacity, we never lose track of the projects’ contribution to the general development of its surrounding community. Many discussions in LAAD’s shareholder meetings have been dedicated to ensure that the company continues to focus and take pride in its developmental responsibility wherever we operate.
LAAD considers that the most transparent indicators of development are the attraction of foreign hard currency and job creation. Therefore, these ratios are measured every year and shared with our employees and stakeholders. These ratios continue to instill great pride and commitment throughout the company.
During 2017, Latin America (our region of operations), continued to experience similar challenges to those encountered in 2016. Some countries faced adverse weather conditions, while others suffered from political turmoil. Heavy rains and hurricanes affected countries like Peru and the Dominican Republic, destroying thousands of hectares of crops. Brazil, Ecuador and Mexico were affected by internal and external political situations causing economic difficulties. In contrast, Central America had a strong performance, as the region benefited from both political and climatic stability.