IIC Holds Workshop For Belizean Exporters on Increasing Shipping Competitiveness

03/06/2012

Belize City, Belize — From February 29 to March 1, 2012, the Inter-American Investment Corporation (IIC), in conjunction with the Belize Trade and Investment Development Service (BELTRAIDE), held a two-day FINPYME workshop on shipping logistics. The workshop was conducted by a locally-hired facilitator, who, at the request of the participants, focused the discussion on the logistics of routes to popular export destinations for Belizean goods and presented the different types of insurance available to local companies.

The FINPYME Technical Assistance initiative, developed by the IIC and financed by the Korea-IIC SME Development Trust Fund, is geared towards small and medium-sized enterprises (SMEs) with the aim of increasing their competitiveness and facilitating their access to potential sources of financing. In Belize, the initial phase on business diagnostics is now complete, and four group technical assistance workshops have been offered.

In 2009, the IIC launched its FINPYME Diagnostics program in five countries of the English-speaking Caribbean—Bahamas, Barbados, Belize, Jamaica, and Trinidad and Tobago. Since that time, the IIC has provided 70 diagnostic assessments, as well as 16 group and 6 individual technical assistance workshops in the region. Following completion of the diagnostic phase, the IIC held four workshops from 2010 to 2011 for Belizean SMEs on human resource management, corporate governance, costing and budgeting, and financial management. The FINPYME Diagnostics program concluded the second phase of its operations in 2011, and FINPYME Technical Assistance activities in Belize will wrap up in the second quarter of 2012.

“While Belize has a significant level of commodity exports—such as sugar, citrus, and bananas—dominated by larger companies, there are also smaller Belizean firms exporting other commodities, including corn, beans, papaya, lobster, fish and other products. A workshop like the one organized by the IIC will definitely help these small firms improve their export capabilities,” noted Raineldo D. Guerrero, CEO of Key Business Solution and also a facilitator of the workshop.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. As of September 2011, the IIC’s equity totaled US$799 million and its assets US$1.44 billion, US$987 million of which make up its development portfolio in the region. For more information on the IIC’s activities, visit www.iic.org.

 

Contact: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org