Washington, D.C., September 30, 2011—IFC
Capitalization Fund signed agreements today to invest $70 million in Banco
Financiera Comercial Hondurena, S.A. (Ficohsa), a leading commercial bank
in Honduras, to support lending to the country’s small and medium enterprises.
IFC Capitalization Fund, which is managed by IFC Asset Management Company,
will invest $32 million in equity and $38 million in subordinated debt,
providing long-term capital resources to Ficohsa for its capitalization
and expansion plans. This is the fund’s first investment in Central America.
Camilo Atala, Ficohsa CEO and Chairman, said: “IFC’s $70 million to support
Banco Ficohsa’s capital base will strengthen our capacity to support small
and medium enterprises in Honduras as well as large projects that are essential
for the country’s economic and social development." He added: "Ficohsa
is a leader in sustainability and will continue supporting socially and
environmentally sustainable development.”
Ficohsa is a longstanding client of IFC, a member of the World Bank Group.
In 2007, IFC provided a $20 million loan to support lending for housing
finance and small and medium enterprises. IFC has also provided $25 million
to support the bank’s import and export finance activity. In addition,
IFC has provided advisory services to help strengthen Ficohsa’s corporate
governance and lending operations.
“IFC Capitalization Fund’s investments will support Ficohsa’s capital
adequacy and prepare the bank for future growth opportunities,” said Marcos
Brujis, head of IFC Capitalization Fund. “We look forward to partnering
with Ficohsa to support economic growth and profitable job creation in
Dolika Banda, IFC Director for Financial Markets, said: “This investment
in a systemically important, locally owned financial institution sends
a strong signal of confidence in the Honduran financial system.”
IFC Capitalization Fund is a global equity and subordinated debt fund founded
by the IFC and the Japan Bank for International Cooperation. It invests
in banks considered vital to the financial system of emerging-market countries.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,
About IFC Asset Management Company
IFC Asset Management Company LLC, a wholly owned subsidiary of IFC, invests
third-party capital, enabling outside investors to benefit from IFC’s
expertise in achieving strong equity returns as well as positive development
impact in the countries in which it invests. It manages the $3 billion
IFC Capitalization Fund and the $1 billion IFC African, Latin American
and Caribbean Fund.
About Japan Bank for International
The Japan Bank for International Cooperation
(JBIC) is the international wing of the Japan Finance Corporation, Japan’s
policy-based financing institution established on October 1, 2008. JBIC
provides policy-based finance with a mission to contribute to the sound
development of the Japanese and international economy, including finance
responding to disruptions in financial order in the international economy.
For more information, visit www.jbic.go.jp/en/