IIC Approves A US$5 Million Loan For Arrendadora Interfin In The Leasing Sector In Central America

03/08/2005

Washington, DC – On March 9, 2005, the Inter-American Investment Corporation (IIC) approved a loan of up to US$5 million to Arrendadora Interfin El Salvador S.A. de C.V., Arrendadora Interfin Guatemala S.A., and Arrendadora Interfin S.A. to fund leasing operations directed toward serving the small- and medium-size enterprise sector of the Guatemalan and El Salvadorian markets.

A Costa Rica-based company, Arrendadora Interfin is one of the largest leasing concerns in Central America. The company has more than ten years of experience in the Costa Rican leasing market. Having already established a presence in the Guatemalan and El Salvadorian markets, Arrendadora Interfin looks to further expand its leasing and financing operations to small and medium-size enterprises in the region. Through this transaction, the IIC will be bolstering its support of the region’s private sector by encouraging local financial institutions to extend an additional financial instrument to a traditionally underserved sector of the leasing market. The loan is expected to aid small- and medium-enterprises in the acquisition of equipment, machinery, and other fixed capital, providing a competitive alternative to conventional bank loans.

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: Steven Reed/Ana Cecilia Savastano

Telephone: (202) 623-3981

Email: stevenr@iadb.org