On November 16, 2023, the Inter-American Investment Corporation (IDB Invest) closed on a secured loan of up to $5,000,000 to Corporación de Viajes Mundiales, S.A., a sociedad anónima organized and existing under the laws of the Republic of Panama (CVM) engaged in providing tourism services in the Central American region. CVM’s providers include small boutique hotels, tour operators, and tourist carriers, many SMEs. The proceeds of the IDB Invest loan will be applied to fund CVM’s working capital requirements to pay suppliers under CVM’s program of advance purchases for hotel stays, tourism services or transportation, effectively improving the operating capital and cash availability of these service providers.

The US-based firm of Hunton Andrews Kurth LLP advised IDB Invest as international counsel. Alfaro, Ferrer & Ramirez (AFRA) and BLP Legal provided Panamanian and Costa Rican legal advice, respectively, to IDB Invest.  

International Counsel to IDB Invest:

Hunton Andrews Kurth LLP
Uriel Mendieta, Partner
Jessica Rivero, Associate

IDB Invest’s In-house Counsel:
Gabriela A. Nassau, Counsel

Panamanian Counsel to IDB Invest:

Roberto Harrington, Partner
Ana Cristina Negrón, Associate

Costa Rican Counsel to IDB Invest:

BLP Legal
Pablo Umaña, Partner
Julio Castellanos, Partner
Luis Herrera, Associate

Counsel to CVM: 

José Antonio Muñoz, Partner
Pamela Contreras, Corporate Director