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IIC and Laboratorio Uruguay S.A. hold signing ceremony for FINPYME credit loan of up to US$380,000

MONTEVIDEO, Uruguay — Within the framework of the Twenty-seventh Annual Meeting of the IIC Board of Governors, Laboratorio Uruguay S.A. (LUSA) and theInter-American Investment Corporation (IIC) held a signing ceremony for a loan to finance working capital needs. With this loan, the IIC is supporting a Uruguayan SME in the manufacturing sector. 

“The financing granted by the IIC will enable us to better meet the growing needs of external markets without neglecting our own vibrant local market,” noted Ignacio Costa, director of LUSA. 

According to Jacques Rogozinski, the IIC’s general manager, “We are pleased to support LUSA’s growth strategy for its business of developing, manufacturing, and marketing veterinary products, since this investment will enable the company to increase its product inventory, and thus its sales and exports.” 

The signing ceremony was held at the IIC’s offices in the Radisson Hotel in Montevideo, site of the Annual Meeting of the IIC Board of Governors. Ignacio Costa signed for LUSA, and Jacques Rogozinski, for the IIC. 

About FINPYME Credit

FINPYME Credit is a product through which the IIC provides loans ranging US$100,000 between US$600,000 to finance SMEs in agribusiness, manufacturing, wholesale and retail sales, services, construction, and any other sector that contributes to the local economy. FINPYME Credit, which is offered in Uruguay, supports small companies looking to increase their sales by financing their investments in working capital as well as fixed assets. 

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. The IIC reached $799 million in equity in September 2011, with total assets of US$1.44 billion, US$987 million of which correspond to its development portfolio in the region. For more information on the IIC’s activities, visit www.iic.org.