IIC And Costa Rica’S Ampo Limitada Sign Loan Agreement For Up To US$1.2 Million

05/19/2008

This is the first direct loan made under the FINPYME program in Costa Rica, which is being carried out in conjunction with ULACIT

San José, Costa Rica - On May 19, 2008, the Inter-American Investment Corporation (IIC) signed an agreement for a loan of up to US$1.2 million to AMPO Limitada. AMPO is a Costa Rican-owned company that produces cardboard hanging file folders, binders, folders, and a wide variety of other office supplies for export to Central and South America and the Caribbean. AMPO has production plants in Costa Rica and Nicaragua and recently opened a small plant in Panama.

AMPO is the first FINPYME program company in Costa Rica to receive financing from the IIC. The FINPYME program is an IIC initiative that, in Costa Rica, is being carried out in conjunction with Universidad Latinoamericana de Ciencia y Tecnología (ULACIT). With the FINPYME methodology, participating companies undergo diagnostic reviews, are given plans for becoming more competitive, and are subsequently offered technical assistance for making the improvements recommended. The goal is to help participating companies become more competitive and make it easier for them to access sources of financing. The FINPYME program is being carried out with support from the Republic of Korea through the Korea-IIC SME Development Trust Fund.

The signing ceremony took place in San José, Costa Rica, and was followed by a reception at the Inter-American Development Bank’s country office, where the IIC has a local presence. Present at the ceremony was Fernando Quevedo, IDB Representative in Costa Rica, who acknowledged the value of the IIC’s operations in Costa Rica.

The agreement was signed by Juan José Trejos, president of AMPO, who said, "We are very pleased with the IIC loan, which complements the company’s ongoing efforts to expand its Central American and Caribbean markets and use the AMPO brand seal of quality to consolidate its presence in Mexico and Venezuela."

The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) 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 member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC’s activities, please visit www.iic.int. For additional information on the FINPYME Program in Costa Rica, please telephone ULACIT’s Francisco Pérez at (506) 2523-4027 or contact him by e-mail at fperez@ulacit.ac.cr.



Contact: Juan Fonseca (in Costa Rica)

Telephone: + (506) 2523-3348

Email: juanf@iadb.org