IIC Signs Loan Agreement With Operadora De Servicios Mega, S.A. De C.V. Sofom, E.N.R. Under The IFEM Program

10/28/2009

Distrito Federal, Mexico - On October 29, 2009, the Inter-American Investment Corporation (IIC) and Operadora de Servicios Mega, S.A. de C.V. SOFOM, E.N.R. signed an agreement for a loan of up to US$3 million under the IIC's IFEM Program.

Operadora de Servicios Mega offers its clients financial solutions that include leasing and direct loans. This Sofom (multiple-purpose financial institution) is part of Grupo Mega, which is a 100% Mexican organization comprising businesses that operate in different sectors of the economy, with an emphasis on the financial, real estate, and franchising segments. For more information on Grupo Mega, please visit www.gfmega.com.

This operation seeks to support small and medium-size enterprises (SMEs) in Mexico. The operations to be financed by Operadora de Servicios Mega will not exceed US$500,000 and will be in line with IFEM Program criteria.

According to Rodrigo Navas, IIC investment officer in charge of the operation, "Asset leasing has been a useful tool for the IIC to provide SMEs with financing for acquiring fixed assets and improving their production capacity."

The loan agreement was signed in Mexico City, Distrito Federal. Signing for Operadora de Servicios Mega was José Guillermo Romo, president. Cecilia Rojas signed on behalf of the IIC.

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.



Contact: Rodrigo Navas

Telephone: (202) 623-3926

Email: rodrigon@iadb.org