IIC Signs Loan Agreement With Artes Gráficas Sagitario S.R.L. In Bolivia
10/20/2008This is the fifth operation in Bolivia under the IIC's innovative SBRL program
Washington, D.C. – On October 20, 2008, the Inter-American Investment Corporation (IIC) signed a loan agreement under its Small Business Revolving Line (SBRL) for up to US$375,000 with Artes Gráficas Sagitario S.R.L., a Bolivian company with more than twenty years of experience in the printing sector.
Artes Gráficas Sagitario has always sought to upgrade its processes with the latest available technology for the sector, to achieve high quality and efficiency and increase profitability. The loan proceeds will be used to finance the purchase of two new production units as part of an expansion and modernization plan, the goal of which is to expand and improve its range of graphic publishing products and services.
The SBRL is a financial product that enables the IIC to offer standardized small loans to eligible small enterprises under an expedited approval process. It is currently offered in Bahamas, Barbados, Bolivia, Costa Rica, Dominican Republic, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Paraguay, Suriname, Trinidad and Tobago, and Uruguay. The SBRL targets private companies operating in the agribusiness, manufacturing, wholesale, retail, service, and construction sectors, as well as any other sector that contributes to the local economy.
This operation arose from an agreement between the IIC and Fundación Bolivia Exporta (FBE) for FBE to act as the IIC's agent in Bolivia to identify and evaluate small and medium-size enterprises that are eligible for direct financing under the SBRL. The agreement was made possible by funding that the IIC received from the Danish Fund.
Mr. Juan Carlos Zamorano Valdez and Ms. Martha Sandra Somoza de Zamorano signed for Sagitario. Mr. Erick Claros from the offices of Estudio Araujo & Forgues signed for the IIC.
The Inter-American Investment Corporation 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 2007, the IIC reached US$1.2 billion in assets and approved 62 transactions channeling US$470 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.
Contact: Hernando Lesme (in Paraguay)
Telephone: + (595 21) 616-2321