IIC Reaffirms Its Commitment With Sudameris Bank S.A.E.C.A. At Signing Ceremony

10/14/2009


From left to right Gustavo Cartes, Hernando Lesme and Conor McEnroy.

Asunción, Paraguay - On October 15, 2009, the Inter-American Investment Corporation (IIC) held a signing ceremony for a US$3 million loan agreement with Sudameris Bank S.A.E.C.A., whose broad banking strategy focuses on serving the corporate sector, small and medium-size enterprises, and individuals.

The purpose of the operation is to finance eligible projects via loans to small and medium-size enterprises in Paraguay. The proceeds will be used mainly to provide financing for the purchase of fixed assets and machinery and for operating capital.

The signing ceremony took place in Sudameris Bank’s offices in Asunción. Conor McEnroy, chairman, and Gustavo Cartes, general manager and director, signed for Sudameris Bank. Hernando Lesme, investment officer, signed for the IIC. Also present at the ceremony was Vladimir Radovic, IDB representative in Paraguay.

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) 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. In 2008, the IIC reached US$1.5 billion in assets and approved sixty-four operations channeling US$300.5 million to SMEs in the region. 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. For more information on the IIC’s activities, please visit www.iic.int.



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