World Bank Group's IFC, IDB Invest, and Rabobank Support San Miguel's Transition Toward Higher Value-Added Agroindustry in Argentina and Uruguay

Buenos Aires, July 23, 2026. The International Finance Corporation (IFC), a member of the World Bank Group, together with IDB Invest and Rabobank, approved financing of up to US$81 million for San Miguel, the world's largest lemon processor, to advance its transition toward the production of higher value-added industrial goods in Argentina and Uruguay.

The transaction will finance the company's investment program for the period 2025-2027 and the refinancing of liabilities as part of its productive transformation.

The project will consolidate San Miguel's business model transition towards higher value-added industrial production, strengthening lemon processing for the development of high-value natural ingredients such as essential oils, concentrated juice, and other derivatives.

The strategy enhances the company's competitiveness, improves operational stability, and increases the resilience of its business model through greater integration into the agroindustrial value chain. The transaction also strengthens local value chains and expands opportunities for domestic suppliers, including small and medium-sized agricultural producers. By promoting industrial modernization, the project supports productive job creation and economic growth in regions linked to the agroindustry.

The operation contributes to AgriConnect, the World Bank Group initiative to transform agriculture into an engine of job creation and food security by scaling investment in agribusiness and agri-finance and strengthening the ecosystems that connect farmers to markets, technology, and capital. By deepening San Miguel's integration with local suppliers-including small and medium-sized agricultural producers-the project reflects the World Bank Group's commitment to building competitive, inclusive agroindustrial value chains across emerging markets.

IFC and IDB Invest each provide an A-loan of US$20.25 million, while Rabobank provides two B-loans of up to US$20.25 million each.

The World Bank Group, through IFC, and IDB Invest will also support San Miguel in the implementation of international standards and improvements in corporate governance. In addition, IDB Invest accompanies the transaction with technical assistance aimed at strengthening management practices and human talent development, including the promotion of female leadership within the organization and its supply chain. These actions seek to reinforce operational sustainability and long-term business resilience.

About IDB Invest

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to help them achieve financial results while maximizing economic, social, and environmental development in the region. With a portfolio of US$22 billion in assets under management and more than 400 clients in 25 countries, IDB Invest offers innovative financial solutions and advisory services that meet its clients' needs across various sectors. Visit our website: https://www.idbinvest.org.

About Rabobank

Founded in the Netherlands, Coöperatieve Rabobank U.A. ("Rabobank") is a leading global bank with more than 1,000 offices in 38 countries. Rabobank operates under cooperative principles and has a strong tradition in the agricultural sector, backed by 125 years of experience in agribusiness financing through long-term client relationships. As a cooperative bank, Rabobank seeks to generate a positive impact on society by promoting sustainable and inclusive growth. Its purpose, "Growing a Better World Together," reflects its ambition to contribute to the well-being and prosperity of communities, while strengthening its global leadership in the food and agroindustry ecosystem and driving the transition toward more sustainable food systems. Present in Argentina since 1993 through a Representative Office, Rabobank has consolidated a strong market presence, developing strategic and lasting relationships throughout the agroindustrial sector's value chain.

About San Miguel

San Miguel is an Argentine company specialized in the industrial processing of lemon and the production of natural ingredients of citrus origin. With industrial operations in Argentina, Uruguay, and South Africa, it supplies more than 100 international clients in over 32 countries across the food, beverage, fragrance, flavor, and natural ingredients sectors. For more information, visit https://www.sanmiguelglobal.com.