IIC Approves A US$1 Million Loan To Banco Regional S.A. To Provide Working Capital Financing To Small And Medium-Size Agricultural Companies
11/11/2003WASHINGTON, D.C. - On November 12, 2003, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a US$1 million loan to Banco Regional S.A. a locally owned bank in Paraguay. The project consists of a medium-term loan to Banco Regional to provide working capital financing to small and medium-size agricultural companies to be used in the financing of grain planting and harvesting for soybean and wheat growers. Through this operation, the IIC will promote the channeling of funding for permanent working capital needs of SMEs, seeking to support the Paraguayan economy by providing financing to one of the most dynamic sectors in Paraguay. It is expected that between ten to fifteen small-medium enterprises will benefit from this transaction. The maximum loan size for the beneficiaries is set at $100,000 with a loan term of a maximum of three years. 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, securities 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. For more information on the IIC's activities, visit its Web site at www.iic.int.
Contact: Steven Reed/Felipe Varela
Telephone: (202) 623-3981