IIC Signs A US$10 Million Loan Agreement With Nicaragua'S Banco De Finanzas, S.A.
06/06/2007Washington, D.C.- On June 7, 2007, the Inter-American Investment Corporation (IIC) and Banco de Finanzas, S.A. signed a US$10 million loan agreement. This is the IIC’s second loan operation with Banco de Finanzas, which has achieved a significant increase in its portfolio of loans to small and medium-size companies in Nicaragua.
The loan will enable Banco de Finanzas to provide small and medium-size Nicaraguan companies, principally in the agricultural, manufacturing, commercial, and service sectors, with working capital financing and medium- and long-term loans to fund expansion projects and the purchase of fixed assets or machinery.
Present at the signing ceremony for Banco de Finanzas, S.A. were Juan Bautista Sacasa, Chairman of the Board; Nicolás Pelyhe, Vice Chairman of the Board; Silvio Lanuza, General Manager; and David Callejas Caldera, Finance Manager. The agreement was signed by Juan Bautista Sacasa, Chairman of the Board of Banco de Finanzas, and Steven Reed, Deputy General Manager of 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. 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.
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