IIC Approves A US$10 Million Loan To RBTT Bank Jamaica Limited
07/30/2003WASHINGTON, D.C. On July 30, 2003, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a US$10 million loan to RBTT Bank Jamaica Limited in Jamaica. RBTT will use the loan to serve the small and medium-size enterprise market in the region.
The loan proceeds will be used to finance small and medium-size enterprises in Jamaica that require long-term funds to finance the acquisition of fixed assets, machinery, or working capital. It is expected that the operation will benefit ten to twelve small and medium-size companies, thus contributing to the development of the private sector in Jamaica.
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 further information on the IIC's activities, visit its Web page at www.iic.int.
Contact: Steven Reed/Victor Hugo Moscoso
Telephone: (202) 623-3981