IIC Approves A $10 Million Loan To Suleasing Internacional To Provide Financing To Small And Medium-Sized Enterprises

02/13/2002

On February 14, 2002, the Inter-American Investment Corporation (IIC) approved a $10 million loan to Suleasing Internacional, a Panamanian company, to provide financing to small and medium-size companies in Central America, the Caribbean and the Andean region via medium- and long-term finance leases for modernizing and expanding those companies.

The project will help in the modernization of production processes in the region by cross-border lease arrangements. It will also increase worker productivity. Labor-intensive industrial and construction sectors account for 40% of the operations approved by Suleasing. The company would thus help improve production conditions, providing state-of-the-art technology to labor-intensive sectors.

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank 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 borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.

Contact: Jorge Zelada/Rita Bettiol

Telephone: (202) 623-3919/(202) 623-3913

Email: jorgez@iadb.org