IIC Approves Revolving Credit Line for Up to US$30 Million for Banco Davivienda S.A. in Colombia


Washington, D.C. — On October 25, 2011, the Inter-American Investment Corporation (IIC) approved a revolving credit line for Banco Davivienda S.A. in Colombia, for up to US$30 million. The loan proceeds will be used to provide financing for SMEs in Colombia in a variety of productive sectors.

According to Piedad Acuña, the IIC investment officer in charge of this operation: "We expect this operation will spur SME development in Colombia, given that a part of Davivienda's growth will focus on this business segment. Specifically, with this operation we are expecting to support some 100 SMEs."

About Banco Davivienda S.A.

For more than 30 years, Davivienda has been an active player and a leader in Colombia's financial sector. It is part of Grupo Empresarial Bolívar, a conglomerate that has been supporting individuals, families, and businesses for more than 70 years as they strive to reach their goals. Davivienda's comprehensive product and service portfolio is geared to meeting the needs of individuals, SMEs, and corporations alike, thanks to constant innovation and segment-specific offerings. More information about Davivienda is available at www.davivienda.com

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 2010, the IIC reached US$1.4 billion in assets and approved 49 operations, channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, visit www.iic.org

Contact: Piedad Acuña (in Colombia)

Telephone: + (571) 325-7055

Email: piedada @iadb.org