New Orleans- During the annual meeting of the Boards of Governors of the Inter-American Investment Corporation (IIC) and the Inter-American Development Bank, the IIC signed a $7.5 million loan agreement for expanding Zona Industrial de Exportación Buena Vista, S.A. ("Zip Buena Vista"), an industrial park in Villanueva, Honduras.
The signing ceremony took place in the Ernest N. Morial Convention Center. The loan documents were signed by Jacques Rogozinski, General Manager of the IIC, and Juan M. Canahuati, Chairman of the Board of Zona Industrial de Exportación Buena Vista, S.A. At the ceremony were also present Gabriela Nuñez, Minister of Finance of Honduras, and Victoria Asfura de Diaz, President of Central Bank of Honduras.
The funds from the IIC will enable Zip Buena Vista to build seven industrial shells for lease and a parking lot for eighty containers. Zip Buena Vista will also be able to invest in improving the environmental conditions of the park.
The funding from the IIC is expected to help generate $20.0 million in foreign exchange for the Honduran economy during the first ten years of operations. It is also expected that the project will create 5,400 jobs and indirectly generate approximately $22.1 million per year in added value from the companies that lease the new shells.
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