The IIC is expanding its support programs for the region’s private sector and encouraging financial institutions to extend the scope of their activities to include financial products that are suitable for small and medium-size companies. The Bancóldex transaction achieves both of these objectives and is in line with the IIC’s efforts to provide financial instruments that respond to the needs of its target market.
By extending a medium and long-term credit line to Bancóldex, the IIC will help Bancóldex meet the financing needs of parties that purchase Colombian products and services through financial intermediaries abroad.
A portion of the credit line will also be used for medium-term export prefinancing by funding loans (with an average amount of $250,000) to finance the export activities of export-oriented small and medium-size companies in Colombia, helping them become more competitive and generating foreign exchange for Colombia. Bancóldex will also be monitoring the environmental practices of intermediary banks and beneficiary exporters.
United States Dollar