The Inter-American Investment Corporation (IIC) has signed a $5 million loan facility with Constructora Santa Fe Ltda to finance the working capital required by the company to participate in tenders for highway projects, initial stages of operations and other pre-operating expenses in Nicaragua and Costa Rica.
With IIC’s financing, Santa Fe will contribute specifically to the development of road infrastructure, improve connectivity, promote commerce and reduce travel times in the municipalities of El Rama and Kukra Hill, located in the Nicaraguan Atlantic area. Both municipalities have a high poverty rate and limited access.
In addition to providing medium-term financing, the IIC will provide technical assistance and work with Santa Fe to improve the company's corporate governance structure. The IIC loan can be renewed and can be used to finance new projects by the company in the region.
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.
About Constructora Santa Fe Ltda
Santa Fe Ltda. is a Costa Rican company specializing in roads in their design and construction, expansion, reconstruction and road improvement, earthmoving and infrastructure and energy projects. It has been operating since 1974 and has developed projects both in its country of origin, as well as in Central and South America. Currently, its main activities are concentrated in Nicaragua and Bolivia.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
- José Luis Lobera