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 2018, Latin America, our region of operations, continued to experience similar challenges as the previous year, while also encountering new ones. In addition to ongoing adverse weather conditions, unexpected political turmoil affected one of the Company’s key growth drivers. Mid-April marked the beginning of the worst political crisis in Nicaragua since the Sandinista revolution in the late 1970s. This crisis brought the economy to a halt and reversed any growth indicators. Consequently, in order to protect its investment in the country, LAAD decided to support only existing clients and will continue to do so. The effects of inclement weather experienced in 2017, including El Niño in Peru and hurricanes in the Dominican Republic, still linger in the countries.