IIC Signs A Loan Agreement With Financiera Nicaragüense De Desarrollo S.A.

09/30/2004

MANAGUA, Nicaragua-Yesterday, September 30, 2004, the Inter-American Investment Corporation (IIC) signed a US$900,000 loan agreement with Financiera Nicaragüense de Desarrollo S.A. (FINDESA) for providing financing for micro, small, and medium-size Nicaraguan enterprises in need of funds for working capital or to finance the acquisition of equipment, machinery, or other fixed assets.

The signing ceremony took place in FINDESA's offices in Managua, Nicaragua. Mr. Gabriel Solórzano, President of Financiera Nicaragüense de Desarrollo S.A., signed on behalf of FINDESA. Signing for the IIC was Mr. Eduardo Balcarcel, Inter-American Development Bank Representative in Nicaragua.

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: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org