IIC Supports The Agribusiness Sector In Nicaragua With A Loan Of US$1 Million To Café Soluble S.A.

10/13/2004

Washington, DC – On October 13, 2004, the Inter-American Investment Corporation (IIC) approved a US$1 million loan to Café Soluble S.A. (CSSA) to enhance the company's competitiveness by modernizing its industrial equipment and information system, and expanding its storage capacity.

Café Soluble S.A. is a Nicaraguan company that produces roasted, ground and soluble coffee for the local and export markets. This is the second IIC loan to CSSA. The first loan was used to upgrade the industrial plant and replace obsolete equipment. The IIC's financing will help enhance the competitive position of this medium-sized Nicaraguan agribusiness company, which produces and exports high value added products and is an important employer in Nicaragua (it employs 450 people).

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank 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 borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.

Contact: Steven Reed/Gustavo López

Telephone: (202) 623-3981

Email: stevenr@iadb.org