IIC And Financiera El Comercio S.A.E.C.A. Of Paraguay Sign A US$1 Million Loan


Asunción, Paraguay - On May 25, 2006, the Inter-American Investment Corporation (IIC) and Financiera El Comercio S.A.E.C.A. of Paraguay signed a US$1 million loan to provide medium-term financing to Paraguayan SMEs.

Financiera El Comercio S.A.E.C.A. will grant subloans to small and medium-size Paraguayan companies for the purchase of machinery and equipment. Through this loan, Financiera El Comercio S.A.E.C.A. will introduce modern environmental and labor management processes to SMEs in Paraguay.

Mr. Carlos Alberto Heisecke Rivarola and Ms. Teresa Rivarola de Velilla, President and First Vice President, signed for Financiera El Comercio S.A.E.C.A. Mr. Jacques Rogozinski, General Manager, signed for the IIC.

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It 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. The IIC's mission is to promote the economic development of its regional member countries by stimulating 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, visit its Web site at www.iic.int.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org