IIC supports air transport infrastructure sector in Ecuador
Loan to Tabacarcén supports SME and exports growth in Ecuador
Washington, D.C., September 9, 2014 — The Inter-American Investment Corporation (IIC) approved a loan of up to US$8 million to Tabacarcén S.A. Tababela Cargo Center, the concessionaire of the logistics center of the Nuevo Aeropuerto Internacional de Quito, Ecuador, for working capital and the consolidation of the company’s liabilities.
“With this operation, the IIC is providing long-term support to the sustainability of an SME in the air transport infrastructure sector,” said Aniceto Huertas-Corcelles, IIC senior investment officer in charge of the operation. “In addition to boosting the development and the competiveness of Ecuador’s productive and export sectors, this operation is expected to create more than 50 direct jobs.”
“The IIC loan will enable us to position ourselves as a top logistics center in the region and will positively contribute to the city and the country as an integral part of the Nuevo Aeropuerto de Quito,” said Santiago Gómez de la Torre, general manager of Tabacarcén.
Tabacarcén is the concessionaire of the logistics center of the Nuevo Aeropuerto Internacional de Quito and the renowned private equity firm Darby Private Equity is one of its shareholders. Tabacarcén holds subconcessions to handle imported cargo between the aircraft parking areas and the logistics center as well as to operate and maintain the latter.
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-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.
Contact: Aniceto Huertas-Corcelles
Telephone: +1 (202) 623-2036 in Washington, D.C.