IIC Financing To Support The Financial Services Sector In Costa Rica

11/05/2003

WASHINGTON, D.C. - On November 5, 2003, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a US$5 million loan to Arrendadora Interfin S.A. to provide funding to small and medium-size Costa Rican enterprises financing the acquisition of equipment and machinery to have upgraded equipment and access to better technology.

With this project, the IIC supports the financial services sector in Costa Rica, expecting to increase the number of SMEs financed by about 430. With a single operation, the IIC will reach a greater number of private businesses, facilitating the replacement of equipment and the expansion of industrial and manufacturing plants; while ensuring that its resources are used in accordance with its own guidelines and business strategies.

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/Ana Cecilia Savastano

Telephone: (202) 623-3981

Email: stevenr@iadb.org