IIC’s FINPYME Colombia Program launches technical assistance phase


Donors from Spain, the Republic of Korea, and Colombian banks support this new phase

Armenia, Colombia – On August 25 and 26, 2010, the Inter-American Investment Corporation (IIC) hosted a workshop launching a new technical assistance phase for companies participating in the FINPYME Colombia program. FINPYME is a diagnostic tool offered to SMEs, free of charge, to help them improve their competitiveness. This technical assistance phase has the support of the Fondo General de Cooperación Española, Bancóldex, Bancolombia, and BBVA.

The workshop was held in Colombia’s Quindio department. It brought together the six FINPYME Colombia agents: members of the Bogotá, Cali, and Medellin chambers of commerce, and representatives of Colombia’s UNIANDES, ICESI, and EAFIT universities, along with FINPYME agents from Nicaraguan and Salvadoran universities, who shared lessons learned from the FINPYME technical assistance phase carried out in Central America. The workshop was funded by the Korea-IIC SME Development Trust Fund.

According to Michael Apel, IIC Senior Trust Fund and Technical Assistance Officer, "All six FINPYME Colombia agents have demonstrated a high level of professionalism. The diagnostic reviews performed will be key for FINPYME participants to assess their strengths and weaknesses and improve their competitive position. At the IIC, we are honored to continue to help participating companies through this technical assistance phase. This phase will include group workshops on issues relevant to participants. Thanks to the support of our donors and strategic partners, many of these companies will also be able to receive individualized technical assistance."

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 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.

Contact: Michael C. Apel

Telephone: (202) 623-2521

Email: michaela@iadb.org