Latin America Day in Cologne

A total of 300 representatives of international business and politics gathered for discussions on 27 and 28 October at the Latin America Society's (LAV, Hamburg) traditional conference, which took place for the 65th time. It was the first time that the Latin America Day was held in Cologne by invitation of DEG, under the patronage of the Mayor of Cologne, Mr. Jürgen Roters.

On 27 October, DEG hosted an evening reception in cooperation with the Commerzbank in the Atrium hall at DEG's headquarters. DEG had invited important customers for a joint dinner on the previous evening. At both these events, a number of DEG customers gave filmed interviews, including Rosario Bazán, Managing Director of the Peruvian asparagus producer and exporter, Danper Trujillo, as well as Florian Festge, Managing Director of HAVER & BOECKER wire weaving and machinery, from the Muensterland region of Germany.

Cooperation opportunities for Latin American and German companies

On both days of the conference, representatives from the world of German and Latin American business and politics spoke about the opportunities Latin America offers as a result of its growing national SME sector, improved framework conditions and a rising need for innovation. As in previous years, the presentations and discussions not only provided information on current developments in the region, but also served as a platform for exchanging and sharing information and experience thus highlighting potential for cooperation between Latin American and German companies.

The traditional gala dinner marked the climax of the Latin America Day, attended by H.E. Michelle Bachelet, President of the Republic of Chile, as guest of honour.

New DEG commitments in Latin America

On the fringes of the Latin America Day, DEG signed two loan agreements. The food producer Alimentos Kamuk Internacional C.R, S.A., from Costa Rica, a SME which manufactures sauces, received a long-term loan with a volume of USD 7.1 million. Kamuk plans to set up a larger and more efficient production facility with DEG's funding, and thereby expand its capacities.

DEG also provided the hotel company Desarrollos Hoteleros de Honduras S.A. de C.V with a long-term loan amounting to USD 19 million. The Dutch FMO bank is co-financier, contributing USD 13.2 million. The loan will serve to co-finance the construction and operation of two energy-efficient four-star hotels in Honduras. Altogether 140 new jobs will be created in the two hotels.