IIC fosters SME innovation with technical assistance in three Central American countries


Panama City, Panama- On March 23, 2011, the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB), will hold the second round of technical assistance workshops on market-based innovation, in Panama, Honduras, and the Dominican Republic. These workshops are part of the FINPYME® program (www.finpyme.org) and target business owners and managers of small and medium-sized enterprises.

FINPYME Technical Assistance is an IIC program funded by the Spanish General Cooperation Fund. It stems from the FINPYME methodology, a diagnostic tool used to help small and medium-sized enterprises improve their competitiveness and access potential sources of financing.

Thanks to this financing from the Government of Spain, SMEs are receiving group and individualized technical assistance to address operational problems that are identified in FINPYME diagnostic reviews. The purpose of this second round of workshops is to identify strategic opportunities for market-based innovation that allow SMEs to position themselves more competitively at the local level.

According to Michael Apel, Senior IIC Trust Fund and Technical Assistance Officer, "It is an honor for the IIC to have the financial support of the Government of Spain in carrying out workshops aimed at improving SME competitiveness in our region. SMEs represent the large majority of the region's businesses, and the IIC's primary mission is to strengthen them."

In order to meet the specific needs of companies in each country, the IIC has the support of the following local organizations: Sindicato de Industriales de Panamá (SIP), Honduras’s Asociación Nacional de Industriales (ANDI), and the Asociación de Industrias de la República Dominicana (AIRD). The workshops will take place in the following venues:

  • Panama City, Panama: March 23, 2011, at 9 a.m. at the Sindicato de Industriales de Panamá
  • Tegucigalpa, Honduras: March 25, 2011, at 9 a.m. at the Asociación Nacional de Industriales
  • Santo Domingo, Dominican Republic: March 29, 2011, at 9 a.m. at the Asociación de Industrias de la República Dominicana
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 forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int

Contact: Michael Apel

Telephone: (202) 623-2521

Email: michaela@iadb.org