IIC Steps Up Support For Nicaragua’S Agribusiness Sector With A Loan To Café Soluble, S.A.
06/08/2009Washington, D.C. - On June 9, 2009, the Inter-American Investment Corporation (IIC) approved a loan of up to US$3,000,000 to Café Soluble, S.A., a Nicaraguan company that produces and packs roasted ground coffee and instant powdered beverages (based on cereal grains and soy). Café Soluble also distributes—chiefly on the local market—its own products and products manufactured by other Nicaraguan and foreign companies. It has a solid market position and is a leader in the sector.
The IIC loan will help Café Soluble implement projects that will make it more profitable by deepening its product mix and improving operating efficiency. This is the IIC’s third operation with Café Soluble. IIC support will continue to help the company grow, especially in the current financial situation that has made financing scarce in Nicaragua.
"Café Soluble operates in a highly competitive market with low entry barriers, so it is important that the company maintain its leadership position. This operation provides the company with the financing it needs to strengthen its competitive position as a producer and distributor of high value-added products and a major employer in Nicaragua," said Anayansi Mazariegos, IIC investment officer in charge of the operation.
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: Anayansi Mazariegos
Telephone: + (502) 2379-9393