IIC Provides Financing To Support The Development Of The Private Sector In Guatemala

04/23/2003

Funding from the IIC will support Guatemala´s export sector WASHINGTON, D.C. - On April 16, 2003, the Board of Directors of the Inter-American Investment Corporation approved a loan of up to US$5 million to Guatemala´s Tejas Cerámicas Maya, S.A. (MACEROTI). The project consists of building and operating a plant that will manufacture ceramic products -chiefly ceramic roofing tiles but other products as well, such as wall blocks and extruded paving blocks. Production will target the Guatemalan and Central American markets.

The project is expected to create some eighty-four direct jobs and generate $20.4 million in foreign exchange over the life of the project.

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.

Contact: Steven Reed/Javier Hernandez

Telephone: (202) 623-3981

Email: stevenr@iadb.org