IIC launches FINPYME ExportPlus in Nicaragua: Practical Tools for Creative Solutions

10/19/2011

Managua, Nicaragua - On October 19, 2011, the Inter-American Investment Corporation (IIC) launched its FINPYME ExportPlus program in Nicaragua. The event was attended by eighty four representatives of over fifty Nicaraguan small and medium-sized enterprises (SMEs). Enrique Zamora Chairman of the Board of Directors of the Association of Producers and Exporters of Nicaragua (APEN), and Francisco Mayorga, Counselor of the Inter-American Development Bank (IDB) and the Inter-American Investment Corporation, offered welcoming remarks, along with Antenor Rosales Bolaños, President of the Central Bank of Nicaragua, and Javier Chamorro, Executive Director of the Nicaraguan Investment Promotion Agency (PRONicaragua).

FINPYME ExportPlus is based on the World Trade Organization’s Aid-for-Trade Initiative, which seeks to help SMEs become more competitive abroad. A series of workshops providing technical assistance will follow the launch later in the year. The first workshop, "Financing and insurance for export: Tools to empower your exports" will be held on November 29. The IIC’s local partner, APEN, will be accepting registration applications through November 25 by email (finpyme@apen.org.ni) and fax (505) 2268 1905.

Piedad Aguilar of the company Piel y Arte, commented, "We are very excited at the prospect of replicating our domestic market successes in the wider export market. The FINPYME ExportPlus program will help us make this transition via technical assistance to improve our production, quality assurance, and design processes." Piel y Arte, a company whose employees are predominately women (80%), manufactures handbags, as well as wallets, belts, luggage, and other products from cowhide.

Carolina Pastora, who, along with her husband co-founded CARPHIL—a company that, for the past two years, has been producing packaged snacks and other baked goods for consumption locally in Nicaragua and for export to Central America—, expressed her interest in the program, noting that technical assistance is essential to the operation of any business. She believes FINPYME ExportPlus would be a valuable asset to her company, especially with regard to training geared toward helping employees improve their work processes.

Attendance to the FINPYME ExportPlus workshops is free of charge to participating companies thanks to the financial support of a key IIC donor, the Republic of Korea. For additional information on the program, please contact Ms. Sonia Somarriba in Nicaragua at ssomarriba@apen.org.ni or (505) 2268-6053.

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. In 2010, the IIC reached US$1.4 billion in assets and approved 49 operations channeling US$374.8 million to SMEs in the region For more information on the IIC’s activities, please visit www.iic.org

Contact: Jouhyun Park

Telephone: (202) 623-2521

Email: jouhyunp@iadb.org