IIC funds dental health care project in Uruguay
The Inter-American Investment Corporation (IIC), the private sector arm of the Inter-American Development Bank (IDB), has closed a US$5 million loan in Uruguayan pesos with Asociación Nacional de Afiliados (ANDA). The loan will finance the expansion and modernization of ANDA’s dental health care centers.
Near 90,000 people will benefit from the project, since it will make possible an additional 25,000 dental consultations every year for ANDA partners and their families. ANDA provides dental health care to low and middle income families that otherwise would not have access to these services.
The IIC loan, with a seven-year term investment and a grace period of up to 2.5 years, will allow ANDA to efficiently manage its cash liquidity and better align its funding with the loan’s terms.
About the IIC
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $7 billion under management and 330 clients in 20 countries, the IIC works across sectors to provide innovative financing and advisory services that meet the evolving demands of its clients.
Asociación Nacional de Afiliados (ANDA) is a civil non-profit institution founded in 1933. It is comprised of approximately 220,000 paid members, mostly public and private workers (70%) and retirees (30%). ANDA aims to solve or alleviate the problems of everyday life for Uruguayans, providing coverage in a wide range of services such as health, credit, money transfers, rental guarantees and legal advice, among others.