Panama: COLAC to administer $13 million in Microcredit

The Panamanian Authority for Micro, Small and Medium Enterprises (AMPYME) has awarded to COLAC the administration of a $13 million trust, called FIDEMICRO-OPORTUNIDAD, which aims to support over 6,500 micro and small enterprises.

An official statement by AMPYME reads:
"The trust companies COLAC and Icaza Trust Corporation, in May 2011 presented their proposals, for the best-value, for the management of the FIDEMICRO-OPPORTUNITY fund, which is a microcredit trust fund assigned to the AMPYME.

The successful trustee COLAC's mission is to manage the fund, manage and place loans to first-tier operators that correspond to cooperatives, financers, microfinance banks, rural banks and NGOs throughout the country, who may then lend using various terms and conditions to MSEs.

Source: Autoridad de la Micro, Pequeña y Mediana Empresa

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