IIC Approves Loan Of Up To US$5 Million To Neopak, S.A.
04/28/2008This operation is expected to contribute to the development of the private sector, increasing the supply of high-quality corrugated cardboard boxes made by local producers for the export industry
Santiago, Chile - On April 29, 2008, the Inter-American Investment Corporation (IIC) approved a loan of up to US$5 million to Neopak, S.A. (Neopak), a plant recently built by Papelera Carrascal. Neopak produces corrugated cardboard boxes for exporters of fruit, salmon, wine, and other products. The new machines purchased for the plant provide superior graphics quality that sets the company apart in the eyes of exporters.
Because of the direct link between Neopak’s products and the export sector, this operation will benefit both by providing a product that meets the international market’s high quality standards. This operation is also expected to promote the efficient use of raw materials by optimizing production logistics and reducing wastage.
The IIC loan will provide Neopak with medium-term financing in dollars to be repaid with a bullet payment at loan maturity. Such payment terms are rare in the Chilean financial market.
The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) 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, please visit www.iic.int.
Contact: Ana María Orellana (in Chile)
Telephone: + (562) 431-3707