IIC Signs Agreement With Banco Financiera Centroamericana, S.A. (Ficensa) To Continue Supporting The Honduran Economic System

04/17/2000

The IIC will contribute to the development of the banking sector, benefiting small and medium-size enterprises in Honduras WASHINGTON, D.C. - The Inter-American Investment Corporation (IIC) signed a $4 million loan agreement with Banco Financiera Centroamericana, S.A. (FICENSA) of Honduras. IIC funding will further the development of small and medium-size companies in Honduras because FICENSA will on-lend the funds to such companies, providing them with medium-to-long-term financing that is scarce in the country. Making long-term funds available to FICENSA for project finance will enable FICENSA to help fund the reconstruction of Honduras' private sector in the wake of Hurricane Mitch.

The signing ceremony took place today at the Washington, D.C. headquarters of the Inter-American Investment Corporation. The agreement was signed by FICENSA's General Manager, Mr. Roque Rivera, and the IIC's General Manager, Mr. Jacques Rogozinski.

The IIC will work with FICENSA to ensure that the projects receiving subloans meet IIC environmental and labor review requirements. The operation is also expected to generate jobs, hard-currency income, and additional goods and services in Honduras.

Contact: Steven Reed

Telephone: (202) 623-3981

Email: stevenr@iadb.org