IIC Approves A Colending Program With Banco Regional S.A. In Paraguay
12/06/2005Washington, D.C. - On December 6, 2005, the Inter-American Investment Corporation (IIC) approved a colending program for up to US$1 million with Banco Regional S.A. to promote investment in Paraguay's agricultural and agribusiness sector. The IIC approved a first US1$ million loan to Banco Regional S.A. in 2003, which benefited some twenty-five producers.
Through this program the IIC will be supporting its target market of small and medium-size companies. This operation is specifically intended to support small and medium-size farming companies and agribusinesses in one of the most productive areas of Paraguay. Banco Regional has an excellent track record in the agricultural sector and is one of the local banks with the largest presence in the nation’s main productive areas. It is expected that between eight and ten small and medium-size agriculture companies will benefit from this second operation with Banco Regional S.A. The operation will serve as a pilot project for creating new ways to put medium- and long-term financing within the reach of farmers in Paraguay, where this type of financing is scarce and the sector's investment needs therefore remain unmet.
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 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, visit its Web site at www.iic.int.
Contact: Steven Reed/Hernando Lesme
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