IIC Signs US$1 Million Loan Agreement With Paraguay’S Banco Regional S.A.
11/15/2006Washington, D.C. - On November 16, 2006, the Inter-American Investment Corporation (IIC) signed a US$1 million loan agreement with Banco Regional S.A. This is the IIC’s second direct operation with Banco Regional, which also has an agency line program with the IIC.
The medium-term loan will help Banco Regional obtain the funding it needs to expand its operations and onlend to Paraguayan SMEs. The SMEs will use these loans to purchase new equipment and finance permanent working capital.
Some thirteen to twenty SMEs are expected to benefit from this operation, receiving loans ranging between US$50,000 and US$80,000. Banco Regional has focused on meeting the financial needs of southeastern Paraguay by offering support mainly to farmers and agribusinesses.
Signing for Banco Regional S.A. were Mr. Nicolás Trociuk, Chief Executive Officer, and Mrs. Irene Memmel de Matiauda. Mr. Jacques Rogozinski, General Manager, signed for the Inter-American Investment Corporation.
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. The IIC's mission is to promote the economic development of its regional member countries by stimulating 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: Jacques Rogozinski (in Washington D.C.)
Telephone: (202) 623-3901