IIC Support Helps Belize’s Private Sector Improve Access to Financing
FINPYME Diagnostics workshop trains SMEs on how to write financial proposals
Belmopan, Belize, July 17, 2012 — Small and medium-sized enterprises (SMEs) in Belize have gained better access to financing thanks to a workshop focusing on financial proposal writing organized by the Inter-American Investment Corporation (IIC) and the Belize Trade and Investment Development Service (BELTRAIDE).
The training session completes a series of five group workshops under the IIC’s FINPYME Diagnostics program, which has benefited some 50 Belizean SMEs. Companies participating in this latest workshop learned about structuring business plans and potential sources of financing for future investments. A facilitator then assisted the entrepreneurs in identifying the best financial options for pending investments.
“Financial proposals are essential for SMEs seeking grants, loans, venture capital, or any other kind of financial resources,” noted Jorge Roldán, chief of the IIC’s Technical Assistance and Strategic Partnerships Division. “The IIC partners with local organizations to address the needs of SMEs in the region and will continue to support the private sector through its technical assistance programs.”
The IIC launched FINPYME Diagnostics in Belize and other Caribbean countries in 2009 to help improve SME competitiveness and facilitate access to potential sources of financing. During the first phase of the program, selected SMEs were analyzed to identify management areas that need improvement. The workshops of the second phase tackled these issues within a group setting. The third and final phase is expected to finalize by the end of this year with the completion of a series of individual technical assistance projects.
FINPYME Diagnostics in Belize is funded by the Korean government through the $40 million Korea-IIC SME Development Trust Fund.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2011, the IIC reached the symbolic one-billion-dollar mark in disbursements of own and third-party funds. Throughout our history, we have benefited more than 1.6 million SMEs in Latin America and the Caribbean. For more information on the IIC, visit www.iic.org.
Contact: Jorge Roldán
Telephone: +1 (202) 623-3948