BID LAB

Innovation laboratory of the BID Group that promotes development through the private sector. It does so by identifying, giving support, enabling new solutions for development problems, and seeking to create opportunities for the poor and vulnerable populations of Latin America and the Caribbean.

The BID Group is the main financing source for Latin America and the Caribbean. It helps people to improve their lives by providing solutions to the biggest challenges of the region. It is composed of BID (the public arm of the group that works with national and local governments), BID Invest (the private arm that works with companies of the region), and BID Lab. BID Lab is the group’s laboratory, and it works with entrepreneurs and innovators.

Type of entity: international financial organization subordinated to UNESCO (UN).

Why should I resort to this entity?

Because BID Lab is the only regional entity that is devoted to promoting innovation in Latin America and the Caribbean.

It uses flexible instruments to test scalable innovations that drive economic and social inclusion. It seeks to catalyze new industries and business models that generate quality employment, improve the productivity of small enterprises, and provide essential products and services to vulnerable populations.

Which is its best strength when supporting an entrepreneur?

They offer a platform to test concepts, do experiments, develop early-stage investments, and create market solutions that may be escalated by BID, BID Invest, or outside partners.

Contact:

Fernando Vargas-Cuevas, Science, Technology and Innovation Competitiveness Specialist.
fvargas@iadb.org
www.bidlab.org

Latin American Development Bank – CAF

Development bank made up by 17 countries of Latin America and the Caribbean, Spain, and Portugal, and 13 private banks of the Latin American region.

Type of entity: multilateral financial institution created for development in Latin America.

Why should I resort to this entity?

Because the entity promotes sustainable development through credits, non-reimbursable resources, and by giving support in the technical and financing structuring of projects in the public and private sectors of Latin America.

Which is its best strength when supporting an entrepreneur?

By means of various types of calls and invitations to bid, it supports regional initiatives for the development of incubation, acceleration, and financing processes, and access to public procurement bidding processes.

Contact:

Rafael Ramos, Investment Official.
rramos@caf.com
www.caf.com

Bancoldex

Development bank that promotes corporate growth and foreign trade in Colombia. It provides several financial and non-financial solutions to promote the development of companies. It operates as a “second-floor bank”, that is to say, it finances working capital and fixed assets for projects or enterprises of any size and sector of the Colombian economy.

Its work focuses on fostering exports, supporting productivity and competitiveness with an emphasis in micro, small and medium-sized companies, aiding in the defense of the environment and the mitigation of climate change, and acting as an instrument to restore the corporate fabric in disaster areas or in areas where the economy has deteriorated.

Type of entity: banking credit institution that operates as a “second-floor bank”.

Why should I resort to this entity?

Because it is a development bank that promotes corporate growth and foreign trade in Colombia. The entity provides a number of financial and non-financial solutions to promote the development of companies.

Which is its best strength when supporting an entrepreneur?

The financial institution provides a number of credit lines suitable for entrepreneurs, either by economic sectors or under the various needs of the local market.

Contact:

Lina Margarita-Díaz, Regional Director – Bogota.
lina.diaz@bancoldex.com
www.bancoldex.com

Agricultural Financing Fund – Finagro

Fund made to finance the farming sector. It promotes the development of the Colombian rural sector through rural financing and development instruments that stimulate investment.

It is a mixed economy company organized as a credit institution that operates under special rules; it is subordinated to the Ministry of Agriculture and Rural Development and is subject to surveillance by the Office of the Superintendent of Finance of Colombia.

Type of entity: mixed economy company of the central, national level.

Why should I resort to this entity?

Because it provides resources and funding through financial intermediaries (banks, cooperatives, and micro-financial intermediary institutions). These are the entities that directly provide the credits to rural entrepreneurs to support the development of their production processes.

Which is its best strength when supporting an entrepreneur?

They provide different credit lines, financial education, and advice on accounts receivable portfolio management for small agriculture producers. Likewise, they invest in farming, agro-industrial, and rural projects, operating hand-in-hand with the private sector.

Contacts:

Jenny Paola Mendoza, Office of the Director of Traditional Banking.
jmendoza@finagro.com.co

Amparo Mondragón, Office of the Director of Nontraditional Banking and New Segments.
amondragon@finagro.com.co

Jecsica Magdiel Melo, Office of the Director of the Investment Fund.
jmelo@finagro.com.co
www.finagro.com.co

Financial Development – FINDETER

Territorial Development Bank that plans, structures, finances, and carries out projects that generate quality of life.

Type of entity: mixed economy company of the central, national level, that operates as a credit institution subordinated to the Ministry of Finance and Public Credit.

Why should I resort to this entity?

Because it is a development bank and the main strategic partner of the national government and territorial agencies for the planning, structuring, financing, and execution of sustainable projects that transform territories.

Which is its best strength when supporting an entrepreneur?

Through calls, invitations to bid, and credit lines, it provides development opportunities to regional business owners and entrepreneurs. It works for the transport, environment, health, telecommunications, urban development and housing, water sanitation, and basic sanitary improvement, education, fiscal remediation, energy, and tourism sectors, as well as for the creative, sports, and entertainment industries.

Contact:

Delfirio Ortiz Rubio, Office of the Regional Commercial Director – Central Area.
dortiz@findeter.gov.co
www.findeter.gov.co