IIC contributes to the development of the manufacturing sector in Peru

03/16/2011

Loan of up to US$3 million to Envases Los Pinos S.A.C. ("Epinsa") in Peru will meet future permanent working capital needs

Washington, D.C. - On March 15, 2011, the Inter-American Investment Corporation (IIC) approved a loan of up to US$3 million to Envases Los Pinos S.A.C. ("Epinsa") in Peru, to meet the company's current and future permanent working capital needs resulting from the expansion of its operations.

According to Juan Fonseca, IIC Investment Officer in charge of the operation, "This operation is expected to have a positive impact on the development of the private sector by enabling Epinsa to expand its container market share, based on the company’s economic integration with export sectors that are key to Peru’s economic growth, especially the agricultural and fisheries sectors. This expansion will generate foreign exchange and create jobs in remote rural areas."

About Epinsa

EPINSA is a packaging company that manufactures metal containers. It began operations in 2006 to supply the local market with tinplate products and byproducts. Its plant is located in the port city of Chimbote, where 80% of the Peruvian fishing industry’s commercial and processing activity takes place. It is a member of Grupo Comeca, which is headquartered in Costa Rica and has commercial and manufacturing operations in several Latin American and Caribbean countries. For more information about Epinsa, please visit www.epinsa.com

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. 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. It does so by providing 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 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int

Contact: Juan Fonseca (in Costa Rica)

Telephone: + (506) 2523-3317

Email: juanf@iadb.org