IIC Launches Export Program for SMEs in Jamaica

10/10/2012

IIC joins forces with IDB to promote export-led growth in the SME sector

Kingston, Jamaica, October 9, 2012 — The Inter-American Investment Corporation (IIC) celebrated a launching event for its flagship FINPYME ExportPlus program in Kingston, Jamaica, gathering close to 100 representatives from the public and private sectors to mark the arrival of its export-boosting initiative in the country.

Jamaica joins a group of eleven countries across Latin America and the Caribbean, where FINPYME ExportPlus has already helped close to 400 small and medium-sized enterprises (SMEs) grow their export skills and improve their competitiveness.

Speaking at the event, Anthony Hylton, minister of industry, investment and commerce, said: “With the launch of FINPYME ExportPlus, Jamaica becomes the only country where all six FINPYME programs, in addition to FINPYME Credit, are offered. I believe FINPYME ExportPlus will bring the initiative full circle.”

Representing one of the key donors of the program, Korean ambassador Kimo Lim underscored the potential of a joint Jamaican-Korean partnership and how this potential can be harnessed by local entrepreneurs: “I have great hopes for the FINPYME ExportPlus program, as it has the potential to empower SMEs to truly claim their position as a driving force for the nation's economy.”

FINPYME ExportPlus is a technical assistance program that helps SMEs become more competitive abroad. The IIC is partnering with the Integration and Trade Sector of the Inter-American Development Bank (IDB) to support the implementation of the World Trade Organization’s Aid-for-Trade initiative, leveraging the expertise of in-house trade policy specialists.

FINPYME ExportPlus will provide a series of group and individual technical assistance sessions tailored to Jamaican SMEs over the coming 15 months. A first workshop on financing for innovative export projects will be held in collaboration with Jamaica Promotions Corporation on November 15.

Training sessions under FINPYME ExportPlus are free of charge for participating companies thanks to financial support from the Republic of Korea and from UKaid, the aid program of the British government.

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 enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2011, the IIC reached the symbolic one-billion-dollar mark in disbursements of own and third-party funds. Throughout our history, we have benefited more than 1.6 million SMEs in Latin America and the Caribbean. For more information on the IIC, visit www.iic.org.

Contact: Jorge Roldán

Telephone: +1 (202) 623-3948

Email: jorgero@iadb.org