IDB Invest has announced financing of up to US$30 million for Barbados-based technology company Productive Business Solutions (PBS) to expand access to digital services and accelerate technology adoption across Latin America and the Caribbean.
PBS operates in 24 countries, providing technology solutions in several areas, including information technology, networking and communications, security systems, managed services, print and imaging, and artificial intelligence-enabled solutions.
The financing is expected to support PBS's growth strategy, helping businesses and public institutions across the region modernise operations, improve efficiency and strengthen service delivery through increased access to innovative technology.
Darryl White, Managing Director for the Caribbean Region at IDB Invest, says the agreement demonstrates the ability of Caribbean companies to expand across the region when provided with the right support.
PBS Group Chief Executive Officer Pedro M. Paris says the financing will strengthen the company's ability to meet the evolving technology needs of its customers and partners, while expanding access to digital solutions.
The funding package includes a secured loan and committed revolving credit facility, providing flexible financing for working capital needs and growth investments.
IDB Invest says supporting digital transformation is critical to improving competitiveness and productivity across Latin America and the Caribbean. It says the project is expected to help more businesses and institutions participate in the digital economy, while contributing to job creation and broader access to technology
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