IIC launches technical assistance phase for FINPYME in Jamaica and Belize

06/21/2010

Washington, D.C. – On June 22, 2010, the Inter-American Investment Corporation (IIC) announced the launching of the technical assistance phase of the FINPYME program in Jamaica and in Belize, with the collaboration of local partners in each country. Working with the IIC in Jamaica are the Mona School of Business of the University of the West Indies and Scotiabank, while in Belize, the IIC is working with Beltraide and Scotiabank.

FINPYME, one of the IIC’s technical assistance programs, which is financed by the Korea-IIC SME Development Trust Fund, is a diagnostic tool for small and medium-size enterprises (SMEs) intended to help them improve their competitiveness and facilitate their access to potential sources of financing. The program has already been implemented in Central America and Colombia, and in March 2009, was launched in five countries of the English-speaking Caribbean: Barbados, Belize, Jamaica,The Bahamas and Trinidad and Tobago. Companies participating in the program are active in many different sectors, such as agriculture and agribusiness, financial services, general manufacturing, and tourism and hotels. The Mona School of Business and Beltraide have now completed diagnostic reviews of the participating companies.

Thanks to funding from the Republic of Korea, many of these SMEs are eligible to receive individual technical assistance designed to assist them in resolving some of the operational problems highlighted in their diagnostics. In addition, all companies will be invited to group technical assistance sessions consisting of a series of practical workshops. For more information on the FINPYME Program, please visit www.iic.int/finpyme.

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 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.



Contact: Michael Apel

Telephone: (202) 623-2521

Email: michaela@iadb.org