The Inter-American Development Bank (IDB), a US-based development finance institution, recently approved a loan of USD 30 million to the “Program to Support Production Development for International Integration,” which will be carried out by El Salvador’s Ministry of Economy, the Ministry of Foreign Affairs and the export promotion agency, National Investment Promotion Agency (PROESA) [1]. The program aims to increase the capacity of micro-, small and medium-sized enterprises (MSMEs) to “participate in national, regional and global value chains.” According to IDB, approximately 1,000 small businesses will receive co-financing in the next four years to enable them to “access markets, develop cleaner production, create franchises, and improve labor standards and production quality.” The program will also contract unspecified advisors to help the MSMEs identify new markets, promote trade and attract investment. As of 2010, IDB reported total assets of USD 87 billion.
By Nisha Koul, Research Associate
About the Inter-American Development Bank (IDB): The Inter-American Development Bank (IDB) is a US-based multilateral finance institution that was established in 1959 and operates in Latin America and the Caribbean. IDB works with governments, companies and nongovernmental organizations (NGOs) to provide both loans and grants to support small and medium-sized enterprises (SMEs), health, education and other sectors. IDB also provides technical assistance and research in these areas. Its Board of Executives is elected by 48 member countries, 26 of which are located in Latin America and the Caribbean. As of 2010, IDB reported total assets of USD 87 billion. The IDB is headquartered in Washington, DC with offices in all 26 member countries, Japan and France.
Sources and Additional Resources:
[1] Inter-American Development Bank Press Release, “IDB loan for $30 million will strengthen small businesses in El Salvador,” http://www.iadb.org/en/news/news-releases/2011-09-26/small-businesses-in-el-salvador,9560.html
MicroCapital.org story, September 9, 2011, “MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Syndicates $19m Loan for Municipal Marketplaces in El Salvador with Participation from Oikocredit, VDK Spaarbank, Bank Im Bistum,” https://www.microcapital.org/microcapital-brief-inter-american-development-bank-idb-syndicates-19m-loan-for-municipal-marketplaces-in-el-salvador-with-participation-from-oikocredit-vdk-spaarbank-bank-im-bistum/
MicroCapital.org story, July 6, 2011, “MICROCAPITAL BRIEF: Inter-American Investment Corporation (IIC) Approves $15m Loan to Peru’s Mibanco for Lending to Micro- and Small Enterprises (MSEs),” https://www.microcapital.org/microcapital-brief-inter-american-investment-corporation-iic-approves-15m-loan-to-peru%e2%80%99s-mibanco-for-lending-to-micro-and-small-enterprises-mses/
MicroCapital Universe Profile: Inter-American Development Bank (IDB), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Inter-American+Development+Bank+%28IDB%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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