The Inter-American Investment Corporation (IIC) signed a framework contract with E Factor Diez, S.A. de C.V. SOFOM ERN (EFD), a Mexican company that offers electronic factoring services, for the discount of credit rights derived from the demand for goods and services by large anchor buyers. Discount of credit rights, also popularly known as factoring, is the operation in which a company yields the collection rights it holds to a certain discount, such as an invoice, in exchange for immediate liquidity. Strategic alliances with fintech companies like this one will allow the IIC to more effectively support the base of the pyramid in Latin America. This agreement marks an important milestone for the IIC because it is the first step in value chain finance transactions that will help provide more liquidity to Mexican small and medium-sized enterprises (SMEs) in a scalable and efficient manner. The first of these transactions will be an uncommitted discount line of $30 million with the supply chain of Nemak S.A.B. de C.V. and Nemak México, S.A, which will provide competitive financing to Mexican companies, primarily to SMEs with limited or non-existent access to credit rights in the Mexican market. Uncommitted discount lines are typically arranged for short-term purposes and do not require prior agreement over all the terms and conditions. This discount line will help the Mexican economy to have sufficient financing to leverage growth. The majority of Mexico's 5.6 million SMEs face strong restrictions for access to finance. About the Inter-American Investment Corporation (IIC) The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients About E Factor Diez / E Factor Network E Factor Network S.A.P.I. de C.V . (“EFN”) is a privately owned company registered in Mexico. EFN offers an Internet platform that enables electronic factoring services for participating suppliers who wish to discount account receivables. Other EFN platform participants include banks which provide financing of receivables and approved corporate buyers which provide payments of receivables on maturity. A related party, eFactor Diez S.A.P.I. de C.V. Sofom ENR (“EFD”) operates as a trade finance intermediary to on-board new platform participants and offer other value added services (EFN and EFD, collectively are a FINTECH Company : www.efactornetwork.com )