Panama: COLAC to administer $13 million in Microcredit

The AMPYME has given the Latin American Confederation of Credit Unions (COLAC) administration of the trust FIDEMICRO-OPORTUNIDAD.

Tuesday, July 5, 2011

The Panamanian Authority for Micro, Small and Medium Enterprises (AMPYME) has awarded to COLAC the administration of a $13 million trust, called FIDEMICRO-OPORTUNIDAD, which aims to support over 6,500 micro and small enterprises.

An official statement by AMPYME reads:
"The trust companies COLAC and Icaza Trust Corporation, in May 2011 presented their proposals, for the best-value, for the management of the FIDEMICRO-OPPORTUNITY fund, which is a microcredit trust fund assigned to the AMPYME.

The successful trustee COLAC's mission is to manage the fund, manage and place loans to first-tier operators that correspond to cooperatives, financers, microfinance banks, rural banks and NGOs throughout the country, who may then lend using various terms and conditions to MSEs.



More on this topic

Credit for Entrepreneurs in Panama

November 2010

Credit needs for the entrepreneurial sector in the country reached $ 245 million.

The figure comes from the study "Proposal of policy, strategy and action plan for implementation of micro-finance services in Panama", created by the Ministry of Economy and Finance, the Micro, Small and Medium Enterprises (Ampyme) and the United Nations Development Program (UNDP).

Panama: Loans Conference for SMEs

August 2010

The show, organized by the Panamanian Micro, Small and Medium Sized Enterprise Authority (AMPyME in Spanish), will be held on 1 and 2 of September in the Atlapa Conference Center.

The idea of the show is to gather under one roof as many financial institutions as possible with products for the MSME sector with the aim of providing small companies with the support they need to develop their businesses.

Up to $1.000 in Seed Funding for SMEs

November 2009

In addition to non-reimbursable funds, Panamanian entrepreneurs will receive technical assistance for elaborating business plans.

Congress is discussing Law 35, which comprises the creation of the Entrepreneurship Fostering Fund. This includes a Seed Capital trust fund, and resources for Technical Assistance, Guarantees and Micro-credit.

$50 Million for Small and Medium Panamanian Companies

July 2009

The Panamanian government is allocating this amount to the development of micro and small businesses involving 546,412 establishments on the national level.

Giselle Calcagno, Minster of the Micro, Small, and Medium Business Authority (AMPYME, acronym in Spanish) commented that the fund is designated for seed capital, micro-credit, collateral funds, and for technical training and assistance.

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