IIC Showcases Export Program’s Work with 319 Jamaican SMEs

08/01/2014

Beneficiaries of the IIC’s FINPYME ExportPlus program present the impact of the program on their business

Kingston, Jamaica, August 1, 2014 — The Inter-American Investment Corporation (IIC) celebrated a showcase event for its FINPYME ExportPlus program in Kingston, Jamaica, gathering 85 stakeholders from the public and private sectors to highlight the results of this export-focused program which worked with up to 319 Jamaican small and medium-sized enterprises (SMEs).

Speaking at the event, Anthony Hylton, Minister of Industry, Investment and Commerce, underscored that: “The FINPYME ExportPlus program has greatly helped Jamaican SMEs with their export-strengthening strategy.”

Jorge Roldán, Division Chief of the Technical Assistance and Strategic Partnerships Division of the IIC, noted: “I hope Jamaican SMEs continue to grow to truly claim their position as a driving force for the nation's economy.”

Since its launch in Jamaica in 2012, FINPYME ExportPlus has held a total of eleven group workshops and provided one-on-one advisory services to five local companies, serving a total of up to 319 Jamaican SMEs. The island nation is part of a group of 17 countries across Latin America and the Caribbean benefitting from FINPYME ExportPlus and the only country where the complete suite of FINPYME programs has been deployed.

FINPYME ExportPlus has had a profound impact across the region, helping more than 2,500 SMEs grow their export skills and improve their competitiveness in international markets through a comprehensive suite of advisory and training services. For the program in Jamaica, the IIC has partnered with the Integration and Trade Sector of the Inter-American Development Bank (IDB), leveraging the expertise of in-house trade policy specialists to support the implementation of the World Trade Organization’s Aid-for-Trade initiative. Financial support for the program in Jamaica comes from the Republic of Korea.

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 (SMEs).  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 2013, the IIC approved 71 operations totaling US$415.4 million.  Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.

Contact: Jorge Roldán

Telephone: +1 (202) 623-3948

Email: jorgero@iadb.org