IIC Approves A US$5 Million Loan To Bancolombia S.A.
04/19/2006Washington, DC – On April 19, 2006, the Inter-American Investment Corporation (IIC) approved a US$5 million loan to Bancolombia, S.A. under the IIC’s Financial Institutions Program. The program is a component of the effort to meet the Declaration of Nuevo León goal of tripling, by 2007, the funding channeled through the IDB Group to microenterprises and small and medium-size companies in Latin America and the Caribbean.
The loan will provide financing to help small and medium-size companies in Colombia meet their working capital needs. Such companies have limited access to sources of credit. The loan will also enable Bancolombia to increase its small and medium-size company loan portfolio.
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: Carlos Roa/Rita Bettiol
Telephone: (202) 623-3955