IDB offers $30 million to Central American Small and Medium sized businesses
The Inter-American Investment Corporation (IIC), an IDB affiliate, hopes to become a financial alternative for small and medium sized businesses.
Thursday, November 20, 2008
John Beckham, corporate project coordinator of the IIC, explained that they have not set an amount per country since the entity will respond to demand.
The project seeks to establish mechanisms to collect credit information and evaluations in order to facilitate access to financing for small and medium businesses.
Costa Rican, Guatemalan and Panamanian SMEs will be able to tap a $10 million fund by Scotia Leasing, for financing projects.
The IDB announced the granting of a million dollar loan to promote foreign trade in the country.
With the fund provided by the Inter-American Development Bank (BID, acronym in Spanish), 29 projects will be executed for small and medium businesses.
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