IIC Grants A Second Loan To A Nicaraguan Company In The Agriculture And Agribusiness Sector
07/18/2005Washington, DC - On July 19, 2005, the Inter-American Investment Corporation (IIC) approved a loan of up to US$7 million to Café Soluble S.A. (CSSA), a Nicaraguan company that produces roasted, ground, and soluble coffee for the local and export markets. The company also produces cereal and soy products and locally markets well-known domestic and international brands of consumer products. This is the IIC's second loan to the company.
IIC financing will allow the company to double its plant capacity. The project provides for the purchase of modern, higher-capacity machinery that will enable the company to improve its production processes and increase plant efficiency. The IIC loan will help strengthen the competitive position of this medium-size Nicaraguan agribusiness that produces and exports high value added products The project will also allow for vertical integration of planting and processing grade 2 coffee that cannot be exported to end consumers; this will generate supplementary income for many of the country's coffee growers. CSSA is also a major employer in Nicaragua, providing jobs for more than 450 people.
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/Rodrigo Elliot
Telephone: (202) 623-3981