Loan of US$10 million to Banco BICE to Provide Financing to More Than 70 Chilean SMEs

12/15/2015

IIC resources strengthen relationship with Chilean bank that has already benefited more than 600 SMEs in Chile

Washington, D.C., December 15, 2015 — The Inter-American Investment Corporation  (IIC) approved a loan of up to US$10 million to Chilean bank Banco BICE, enabling it to strengthen its presence in the country and boost its capacity to provide financing to small and medium-sized enterprises (SME) operating in sectors such as agriculture, agribusiness, manufacturing, construction, and services. 

“With this loan, we are supporting BICE’s efforts to continue developing products and services aimed at addressing the needs of Chilean SMEs,” said Adriana González, the IIC equity investment officer in charge of the operation. “This operation is expected to finance more than 70 subloans to SMEs.”

“This operation enables us to continue to strengthen in our role of promoting financing for SMEs. We have been working with the IIC since 2006, and we expect this relationship to continue directly benefiting our clients,” said Alberto Schilling, Banco BICE’s general manager.

This would be the IIC’s fourth operation with Banco BICE. The first operations supported close to 600 Chilean SMEs and contributed to Banco BICE’s growth and development.

Banco BICE is a financial institution that was established in 1979. In addition to the traditional financing services, deposit-taking, and other banking services, BICE is highly specialized in foreign trade, investment project finance, and investment consulting services. BICE is an all-purpose, medium-sized bank headquartered in Santiago, Chile, characterized by its consistent success in implementing its strategy and maintaining its market share, as well as by its recognition in the corporate segment. It has a network of 27 branches, complemented by an online platform.

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 SMEs. The Corporation provides companies with financing in the form of equity investments, loans, and guarantees, as well as with technical assistance, advisory services, and innovative 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: Adriana González

Telephone: +57 (1) 325-7086 in Bogotá, Colombia

Email: agonzalez@iadb.org