$3,500,000 Loan - Inter-American Investment Corporation Approves Loan To MABET In Bolivia
10/30/2001Backing for an industry that is key to the Bolivian economy.
Washington, D.C. - On October 31, 2001, the Inter-American Investment Corporation (IIC) approved a $3,500,000 loan to Maderera Boliviana Etienne S.A. (MABET) that will be used to increase and diversify production capacity at the company's plant and increase production capacity at the Agroindustrial y Forestal Pacahuaras S.A. (Pacahuaras) sawmill.
MABET is a small company that manufactures wood doors and flooring and other derivatives. This is an integrated project, because the Agroindustrial y Forestal Pacahuaras S.A. sawmill is wholly owned by Bolivian nationals who also have a majority holding in MABET.
The loan term is seven years, with a grace period of up to two years. The IIC is playing a significant role by backing an industry whose reliance on local raw materials and labor throughout the production process makes it key to the development of the Bolivian economy.
MABET exports all of its production (high value-added finished goods). Thanks to the funding from the Corporation, MABET's exports will increase, more employees will be hired, and Pacahuaras will obtain forestry certification.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.
Contact: Steven Reed
Telephone: (202) 623-3981