IIC supports the metalworking infrastructure sector in Bolivia

11/04/2015

The US$160,000 loan will support the development and the competitiveness of Boliviana de Obras Metálicas Metánica Bomec Ltda.

Santa Cruz, Bolivia, November 4, 2015 — The Inter-American Investment Corporation (IIC) approved a loan of US$160,000 to Boliviana de Obras Metálicas Metánica Bomec Ltda. (Bomec) to increase its productivity in the metalworking infrastructure sector by investing in a new cutting machinery, vehicles, and working capital.

The loan was approved under FINPYME Credit, an IIC program for financing small and medium-sized enterprises (SMEs).

“With this loan, the IIC is helping a Bolivian SME react to its significant sales growth and maintain its competitiveness,” said Ignacio González Darriulat, IIC financial analyst in charge of the operation.

FINPYME Credit is a small-loans program that provides competitive financing to SMEs in Latin America and the Caribbean. The loans range from US$100,000 to US$600,000 and are available to businesses from a number of productive sectors. FINPYME Credit is offered in Bolivia, among other countries of the region, and supports small companies looking to increase their sales by financing investments in working capital and fixed assets.

Bomec is a Bolivian company that was established nine years ago. Bomec’s chief product is metalwork infrastructure projects (such as special warehouse roofing, liquid/gas storage tanks, and industrial metal parts). These projects include the project calculations and the construction of these metallic structures as well as infrastructure monitoring and maintenance services. Bomec provides these services mainly to companies in the oil, industrial, and agribusiness sectors.

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. The Corporation provides companies with financing in the form of equity investments, loans, and guarantees, as well as with technical assistance, advisory services, and knowledge products. In 2014, the IIC approved 64 operations totaling $426.3 million. Since its inception, the IIC has approved more than 920 loan and equity investments for SMEs and financial intermediaries, for a total of US$5.63 billion. An additional $3.7 billion has been mobilized through cofinancing and syndication agreements. For additional information on the IIC's activities, visit www.iic.org.

Contact: Ignacio González Darriulat

Telephone: +598 2915 3696 in Montevideo, Uruguay

Email: ignaciog@iadb.org