IIC Approves A $10 Million Loan To Banco De Bogotá S.A. To Provide Financing To Small And Medium Enterprises
12/10/2002WASHINGTON, D.C. – On 11 December 2002, the Inter-American Investment Corporation (IIC) approved a $10 million loan to Banco de Bogotá S.A The loan proceeds will be used to provide medium- and long-term financing to small and medium-size companies in Colombia seeking to purchase fixed assets and modernize or expand their operations.
The Banco de Bogotá provides commercial banking services to many small and medium-size companies in Colombia. Its loan portfolio is diversified across industries, with the manufacturing sector accounting for the largest portion. In view of current market conditions, the bank will seek to identify small and medium-size companies that operate in the trade, manufacturing, communication, service, and transportation sectors, among others.
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 borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.
Contact: Steven Reed
Telephone: (202) 623-3981