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The International Finance Corporation, the private sector arm of the World Bank Group, has signed an agreement to provide a medium-term revolving credit facility of US$30mn to Grupo Taca for the benefit of Taca International Airlines and other members of Grupo Taca, for pre-delivery payments (PDPs) towards the purchase of Airbus A-320 family aircraft.
This is IFC’s first financing in Central America’s airline sector.

A leading Latin American airline, TACA operates 111 daily flights to 35 destinations in 19 countries in the Americas from its hubs in San Salvador (El Salvador), San Jose (Costa Rica) and Lima (Peru). With its extensive network and direct connections from a number of North American destinations, TACA has substantially reduced the cost of air travel to and from Central America, making the region more accessible to both business and leisure travellers.

“IFC is delighted to be a partner of TACA as it expands and continues to provide safe, efficient and low cost service to, from and within Central America,” says Francisco Tourreilles, director of IFC’s infrastructure department.

Atul Mehta, director of IFC’s Latin America and Caribbean Department, notes, “IFC’s financing of TACA’s expansion supports the corporation’s strategy in Central America, which places significant emphasis on developing regional infrastructure as a means to stimulate economic growth.”

Roberto Kriete, chairman of Grupo Taca, adds, “TACA is very pleased to have closed this transaction successfully, in what we hope is the first step of a long and fruitful relationship with IFC. We appreciate IFC’s valuable support, both for our company and the region”