Costa Rica: $1 Million Invested in Desyfin

The Inter-American Investment Corporation (IIC) approved an equity investment of up to US$1 million in preferred shares of Financiera Desyfin S.A.

Monday, June 7, 2010

The investment involves purchasing dollar-denominated perpetual preferred shares. In addition to strengthening Desyfin’s capital structure, the funds from the IIC will provide the company with direct financing to grow its medium- and long-term SME portfolio. Approximately 520 SMEs will benefit directly and indirectly from this operation.

According to Rodrigo Navas, IIC investment officer, “This operation is in line with the IIC’s developmental priorities and will enable Desyfin to take a significant step toward becoming a commercial bank.”

More on this topic

The IIC and Café Britt Costa Rica S.A. sign an agreement for a loan of up to US$4 million

July 2010

The Inter-American Investment Corporation (IIC) signed a loan agreement for up to US$4 million with Café Britt Costa Rica S.A., a subsidiary of Grupo Britt, N.V.

This IIC loan will provide Café Britt S.A. with appropriate permanent working capital financing that will help it plan its operating funding requirements at the regional level.

The IIC Approves an Equity Investment in QBE del Istmo

December 2009

The Inter-American Investment Corporation (IIC) approved an equity investment of up to US$8 million in preferred stock in QBE del Istmo.

QBE del Istmo Compañía de Reaseguros, Inc (QBE del Istmo) is a reinsurance company. QBE is headquartered in Panama and has a presence in Central and South America.

$3 million for small and medium sized companies in Guatemala

December 2008

The Inter-American Investment Corporation signed an agreement with the Eastern Financial Company to channel $3 million in credit for the companies.

Steven Reed, sub general manager of t he IIC, said that the agreement is very important due to the financial crisis and reaffirms the IDB's commitment to supporting the region during difficult times.

IDB offers $30 million to Central American Small and Medium sized businesses

November 2008

The Inter-American Investment Corporation (IIC), an IDB affiliate, hopes to become a financial alternative for small and medium sized businesses.

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.

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