IIC grants a loan of up to US$10 million to Banco Aliado, S.A. in Panama

On September 6, 2010, the Inter-American Investment Corporation (IIC) granted a loan of up to US$10 million to Banco Aliado, S.A. for leasing and factoring operations and working capital to provide financing to SMEs.

IIC is a multilateral financial institution 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.

Quijano & Associates acted as local legal counsel to the IIC in:

(1) Preparing the due diligence report;

(2) Reviewing the loan agreement and the texto of the promissory note intended to serve as guarantee for the transaction, and

(3) Providing the final legal opinion.

Attorneys Carla Rojas and Oliver Muñoz Esquivel were the lawyers representing Quijano & Associates.

Other legal counsel were:

María Lucía Abreu and Gabriela Infante for the IIC, and Rafael Sousa for Banco Aliado, S.A.

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