Indorama Ventures joins BBVA Mexico’s “Crediproveedores” model for USD30 million

BBVA México and Indorama Ventures agreed on a supplier factoring line (part of its “Crediproveedores” program) of up to thirty million dollars. Under this program, special conditions will be offered to suppliers of this company who demonstrate value chain sustainability. This is the Group’s first cross-border sustainability-linked Crediproveedores deal. The supplier assessment will be carried out by Indorama Ventures, using a process facilitated by BBVA and approved by the world-class certification agency NDV, which is staffed by independent experts in assurance and risk management.

Álvaro Vaqueiro Ussel, Head of Corporate and Investment Banking, said: “This transaction will allow us to support and encourage companies and SMEs to continue and improve their sustainability strategies within the value chain in a highly specialized industry. Sustainability is not just a personal and corporate responsibility, it is a strategic opportunity to boost each of the businesses and prepare them for the future"

Anand Kumar Agrawal, regional director of Corporate Finance, mentioned that, in line with IVL’s vision of being a world-class sustainable chemical company, this alliance will amplify our sustainable commitment in the LatAm region.

Indorama Ventures was founded in Thailand in 1994 and is a global leader in the production of petrochemicals, specializing in polymers, fibers and chemical intermediates. In Mexico, it has seven facilities in four Mexican states (Jalisco, Puebla, Querétaro and Veracruz), where it makes products that supply key industries such as automotive, textiles, food and beverages, and others. It provides highly specialized solutions in the field of technical textiles, tire cord fabrics and PET recycling.

Sustainability is a strategic priority for BBVA Group, which between 2018 and December 2024 has mobilized EUR304 billion of the EUR300 billion planned for 2018-2025, allocating 77% to the fight against climate change and 23% to inclusive growth. In Mexico, between January and December 2024, more than MXN325 billion have been channeled, of which MXN251 billion were allocated to environmental projects and MXN73,000 billion to inclusive growth initiatives, reinforcing the local commitment to sustainable development

The sustainability-linked Crediproveedores program is one example of this approach, and through it BBVA Mexico promotes the transition to responsible business models through financing on preferential conditions, supporting large corporations such as Indorama Ventures and small and medium-sized companies in their value chains.

The growing momentum of nearshoring has opened up new investment opportunities in Mexico for companies from around the world, particularly Asian companies such as Indorama Ventures. BBVA Mexico is rapidly becoming the ideal strategic ally for such corporations, thanks to its solid global presence, the backing of BBVA CIB and the specialized support of its Asian Desk, which offers comprehensive solutions for corporate banking, investment and cultural and financial support. Through this platform, BBVA Mexico reinforces its commitment to attracting foreign investment, optimizing supply chains and promoting sustainable growth, thus reaffirming its leadership in corporate project finance and supporting the various productive sectors that seek to capitalize on the competitive advantages of nearshoring.