IIC and Altmann Montero Exportaciones S.R.L. sign loan agreement for up to US$300,000 under FINPYME Credit program

04/13/2012

Santa Cruz de la Sierra, Bolivia – On April 4, 2012, the Inter-American Investment Corporation (IIC) and Altmann Montero Exportaciones S.R.L. (Altmann) signed a loan agreement for up to US$300,000 for machinery purchases and working capital.

“The loan will help the company invest in machinery and working capital, which will enable us to boost our production and create new sources of employment," said Nicolás Altmann Croizier, Altmann's legal representative.

Cristina Paredes, IIC Investment Associate in charge of the operation, noted, “With this operation, the IIC will be consolidating its contribution to the development of Bolivian SMEs and providing support for the wood, pulp, and paper sector while protecting the environment, since the lumber that Altmann uses comes from tropical forests that have forest management plans."

Nicolás Altmann Croizier signed on behalf of Altmann, and Dafnee Puttkamer Gutiérrez, on behalf of the IIC.

FINPYME Credit is a product through which the IIC provides loans ranging from US$100,000 to US$600,000 to finance SMEs engaging in activities in agribusiness, manufacturing, wholesale and retail sales, services, construction, and any other sector that contributes to the local economy. FINPYME Credit, which is offered in Bolivia, supports small enterprises looking to increase their sales by financing investments in working capital as well as fixed assets.

About the IIC

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 2011, the IIC reached US$1.48 billion in assets and approved 71 operations channeling US$464.7 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.org.

Contact: Cristina Paredes

Telephone: + (595 21) 616 2320

Email: cristinapar@iadb.org