IIC Supports Development of Low-Emission Buses in Mexico
Loan in Mexican pesos to Dina Camiones S.A. de C.V. will result in more than 1,200 new direct jobs
Washington, D.C., October 27, 2014 — The Inter-American Investment Corporation (IIC) and Mexican company Dina Camiones S.A. de C.V. signed a loan agreement in Mexican pesos today for up to MX$29.7 million to finance the design and development of buses that run on low-emission technology.
The new buses will be developed pursuant to international environmental standards. Production of the buses will support a large supply chain of mostly small and medium-sized enterprises and will create both direct and indirect jobs.
“Through this long-term operation in local currency, the IIC supports Dina in its business plan to expand both local and international sales of transportation systems that use clean technologies, mainly in the Andean region and Central America,” said Mónica Navarrete, IIC senior investment officer in charge of the operation. “This financing will also help Dina improve its corporate governance through participation in a corporate governance workshop for IIC clients organized by the IIC.”
Dina is a Mexican company that designs and manufactures transportation equipment. It provides transportation solutions by manufacturing buses ranging from 8 to 18 meters in length for urban and suburban markets, using technology that is 100 percent Mexican. Dina has ISO 9001 (quality management), ISO 14001 (occupational health and safety), and OHSAS 18001 (environmental management) certification. Its Comprehensive Management System (CMS) incorporates these standards, ensuring the quality of the Company’s products and services.
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 the IIC, visit www.iic.org.
Contact: Mónica Navarrete
Telephone: +503-2233-8901 in San Salvador (El Salvador)