IIC Launches FINPYME Mujer Empresaria Initiative in El Salvador and Peru
IIC to offer diagnostic reviews to women-owned businesses in the two countries under FINPYME Mujer Empresaria
Washington, D.C., October 21, 2013 — The Inter-American Investment Corporation (IIC) will launch its FINPYME Mujer Empresaria initiative in Lima, Peru, on October 23 and in San Salvador, El Salvador, on October 29. FINPYME Mujer Empresaria is an offshoot of the WEAmericas initiative and was created with support from the Government of the United States through the FINPYME Mujer Empresaria Trust Fund. As part of this launch, 100 diagnostic reviews will be provided free of charge to women-owned small and medium sized enterprises (SMEs) in Peru and El Salvador to boost their competitiveness.
FINPYME Mujer Empresaria is an innovative program designed to improve the performance of women-owned SMEs and promote knowledge transfer to make them more successful. The initiative consists of two phases. In the first, participating companies will receive a detailed diagnostic review of their competitive position, along with a plan of action to meet their growth targets. In the second, the program will offer technical assistance to help these companies implement the recommendations of the diagnostic review.
Diagnostic reviews highlight the strengths and weaknesses of companies, offering them opportunities to grow and thrive in an ever-changing business environment.
“Women entrepreneurs often lack access to financing and the tools they need to make their companies more competitive. The launch of this new program represents an excellent opportunity to help women entrepreneurs identify areas of their business that need improvement, with a view to optimizing their competitive position,” noted IIC general manager Carl Muñana. “This innovative program provides the technical know-how women need to increase their business acumen.”
About WEAmericas and the Trust Fund
WEAmericas was launched by President Obama at the 2012 Summit of the Americas. The initiative capitalizes on public-private partnerships to promote economic growth in Latin America and the Caribbean and offers solutions in four areas to overcome the barriers women entrepreneurs face during an SME’s start-up and growth period: access to markets; access to capital; training; and leadership. In October 2012, Secretary of State Clinton announced the creation of the FINPYME Mujer Empresaria Trust Fund at the Inter-American Investment Corporation to support the objectives of the WEAmericas initiative. This trust fund can receive resources from other donors to support FINPYME Mujer Empresaria activities in other countries of the region.
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-sized enterprises. We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2012, the IIC approved more than 70 operations totaling some US$400 million. Since its inception in 1989, the IIC has approved approximately 800 direct loans to SMEs and financial intermediaries, for a total of US$4.8 billion. An additional US$2.8 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC, visit www.iic.org.
Contact: Jorge Roldán
Telephone: +1 (202) 623-3948