Our operations in fiscal year 2022 were impacted negatively by a series of adverse events. The recovery of investment in Latin America was limited due to the war in Europe and political and social instability in various regional countries. Our operations were defined by logistical issues at the beginning of the year, followed by cost increases and political tensions throughout. Despite these challenges, LAAD’s focus, analysis, and creative strategies resulted in a solid financial performance with a growth of 9% in disbursements and a 3% increase in net income.
New Loans committed: In the 2022 fiscal year, the Company disbursed a total of US$281 million and committed US$248 million in new loans towards 13 countries, which is comparable to the amount of loans committed in the previous year. These loans have facilitated the creation of 10,233 new job opportunities and led to the generation of US$300 million in additional exports in the region. Overall, the loan recipients have a collective annual sales revenue of over US$1.5 billion, primarily from the sale of food products.
Products: Banana and coffee projects were the highest new loan commitments for the year at 20% and 11%, respectively. Cattle and soybean followed with 8.3% and 5.3% each, respectively. LAAD’s agribusiness portfolio reached a record US$1,092 million at the end of fiscal year 2022, growing by 2% compared to 2021.
