Inter-American Investment Corporation (IIC) Introduces Its Innovative Financial Program for SMEs in Chile and Bolivia

01/07/2001

WASHINGTON, D.C. - The Inter-American Investment Corporation (IIC)1 has selected Chile and Bolivia as two of the Latin American countries where it will implement, on a pilot basis, an innovative methodology for the selection and evaluation of small and medium-size enterprises. Selected companies could have access to long-term financing from the IIC, a multilateral organization headquartered in Washington, D.C. Ultimately, they will be able to receive professional advice from international experts to make increased competitiveness part of their business plans.

The program, called FINPYME, will be presented to Chilean companies at 8:30 A.M. on Tuesday, January 9, at the Sheraton Hotel in Santiago, Chile. The event will be attended by Mr. Enrique Iglesias, President of the Inter-American Development Bank (IDB) and Chairman of the Board of Executive Directors of the IIC; Mr. Jacques Rogozinski, General Manager of the IIC; and Mr. Germán Quintana, IIC's Alternate Executive Director for Chile and Peru.

FINPYME will be presented to Bolivian companies in La Paz at 6:00 P.M. on Wednesday, January 10, at the Radisson Plaza Hotel, and on January 11 at 9:00 A.M. in Santa Cruz, at the headquarters of the Santa Cruz Chamber of Commerce and Industry, in the Torres Cainco building. The Bolivian presentations will be attended by Mr. John Paul Martin Rojas, Senior Adviser to IIC's Executive Director for Bolivia, and Mr. Jacques Rogozinski, General Manager of the IIC.

The presentations will provide detailed information on the FINPYME program, such as the type of companies to be selected, the financing objectives, and the selection methodology. With this program, IIC seeks to assist companies that do not have access to long-term financing.

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1 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. The IIC has thirty-seven member countries: twenty-six in Latin America and the Caribbean and eight in Europe, plus the United States, Japan, and Israel. For further information on IIC's activities please contact Mr. Jorge Roldán at 202-623-3948.

Contact: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org