IIC Drives Development of Honduran SMEs by Providing Financing for Banco Financiera Centroamericana, S.A.
Operation expected to result in loans to at least 16 SMEs
Washington, D.C., September 19, 2014 — The Inter-American Investment Corporation (IIC) approved a loan of up to US$3.9 million to Banco Financiera Centroamericana, S.A. (Ficensa) to support its efforts to expand its lending activities in Honduras’ small and medium-size enterprises (SMEs) sector. With this loan, operations with Ficensa approved by the Inter-American Development Bank Group (IDB Group) total US$11.9 million.
“With this loan, the IIC supports Ficensa in its strategy of helping SMEs grow and become more competitive. The IIC also supports Ficensa’s efforts to diversify its medium-term funding,” said Mónica Navarrete, the IIC senior investment officer in charge of the operation.
Ficensa began operations in Honduras in 1974. The bank focuses mainly on financing for the commercial sector. It has two main offices in Tegucigalpa and San Pedro Sula, as well as 22 branches in the country’s main cities.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC, visit www.iic.org.
Contact: Mónica Navarrete
Telephone: +503-2233-8901 in San Salvador (El Salvador)