IIC And Financiera Desyfin S.A. Help Further The Development Of Costa Rica’S Financial Market
06/06/2010Washington, D.C. - On June 7, 2010, the Inter-American Investment Corporation (IIC) approved an equity investment of up to US$1 million in preferred shares of Financiera Desyfin S.A.
The investment involves purchasing dollar-denominated perpetual preferred shares. In addition to strengthening Desyfin’s capital structure, the funds from the IIC will provide the company with direct financing to grow its medium- and long-term SME portfolio. Approximately 520 SMEs will benefit directly and indirectly from this operation.
Desyfin’s mission is to provide quality financing solutions to Costa Rican SMEs and handle business relations with its customers with a sense of responsibility and excellence, so as to meet their needs and increase their growth opportunities. For more information about Desyfin, visit www.desyfin.fi.cr.
According to Rodrigo Navas, IIC investment officer, "This operation is in line with the IIC’s developmental priorities and will enable Desyfin to take a significant step toward becoming a commercial bank."
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: Rodrigo Navas
Telephone: (202) 623-3926