The Caribbean Economy Will Be Supported By IIC's Funding For Republic Bank In Trinidad And Tobago
06/27/1999Small and medium-size Caribbean companies will have access to affordable financing WASHINGTON, D.C. - On February 5, 1999, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a $40 million loan to Republic Bank Limited in Trinidad and Tobago to on-lend to small and medium-size companies in the Caribbean region; $30 million will be funded under IIC's cofinancing program.
Through this operation, the IIC will support small and medium-size enterprises in Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, and Trinidad and Tobago that lack access to long-term funding to undertake investment projects. IIC resources will also reach multiple companies in key industries such as tourism, manufacturing, construction, chemicals, agribusiness, mining, and transportation.
In addition, the funding is expected to create 750 jobs, generate $90 million in annual export earnings, and contribute more than $50 million annually to the countries' GDP.
Contact: Steven Reed
Telephone: (202) 623-3981