Café Britt Costa Rica S.A. Receives A Loan Of Up To US$4 Million From IIC
06/06/2010The operation will create new jobs in Costa Rica and other countries
Washington, D.C. - On June 7, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$4 million to Café Britt Costa Rica S.A.
This operation seeks to provide financing for permanent working capital. Café Britt has a unique business model that has consolidated the quality of its main original products (gourmet coffee and chocolates) internationally. The company has also expanded its presence in tourist and airport shops, focusing on diversifying and offering locally authentic, value added products. For more information about the company, visit www.cafebritt.com.
According to Juan Fonseca, Investment Officer in charge of the operation, "With this financing, the IIC is supporting a local company operating internationally that, over the years, has managed to break the pattern in a very traditional industry in the region by innovatively positioning itself with unique, quality products."
It is expected that the IIC will provide technical assistance to the company to benefit its SME suppliers of cocoa and handicrafts through improved financial management and production quality.
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.
Contact: Juan Fonseca (in Costa Rica)
Telephone: + (506) 2523-3348