Inter-American Investment Corporation launches FINPYME in the English-Speaking Caribbean

02/23/2009

Working with universities, the program seeks to help small- and medium-size enterprises better access longer-term financing

WASHINGTON, D.C. - The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, will host in-person presentations in The Bahamas, Barbados, Belize, Jamaica, and Trinidad and Tobago to launch the FINPYME program in the Caribbean. FINPYME is an innovative diagnostic review designed to empower small- and medium-size businesses by giving them the tools they need to become more competitive and improve their access to potential sources of financing.

The IIC has collaborated with business schools from selected universities in the region to train professors in the unique FINPYME methodology specifically designed to effectively help small- and medium-size enterprises grow and develop. FINPYME then partners these trained professors with eligible businesses in the region to carry out a comprehensive analysis of the company and compile the findings in a report for the business owners. In addition, the IIC has developed a program to offer participating businesses technical assistance in order to address vulnerabilities discovered in the diagnostic review.

The Caribbean launch will host official events starting at 8:30 a.m. local time at the following venues:

  • Kingston, Jamaica: March 2 at the Jamaica Pegasus Hotel;
  • Nassau, The Bahamas: March 4 at the British Colonial Hilton;
  • Bridgetown, Barbados: March 6 at the Hilton Barbados;
  • Port of Spain, Trinidad and Tobago: March 10 at the Hyatt Regency Trinidad; and
  • Belize City, Belize: March 12 at the Best Western Belize Biltmore Plaza.
FINPYME is a free, business-friendly initiative that provides small- and medium-size enterprises access to the types of diagnostic tools that large corporations use to collect and analyze data about their operations, identify weaknesses, and define actions for improvement. This program represents the IIC’s commitment to provide value-added services to private-sector organizations in the region. The FINPYME program in the Caribbean is free of charge to participating companies given the financial support of two key IIC donor countries: the Republic of Korea, and Austria.

For additional information on the program and to RSVP for the events please visit www.finpyme.org. The IIC is a multilateral financial institution that 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. In 2008, the IIC reached US$1.5 billion in assets and approved 64 transactions channeling US$300.55 million to small- and medium-size enterprises in the region. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC’s activities, please visit www.iic.int.



Grown your business with FINPYME

Contact: Sylvia Szankay / Verónica Nur Valdés

Telephone: (202) 623-3878/(305) 323-2444

Email: sylviasz@iadb.org / FINPYME@iadb.org