Think SME, Think IIC
The combined portfolios of the seven major multilaterals active in Latin America and the Caribbean represent less than three percent of the region’s GDP. What this means for the IIC is that it must venture even further beyond financing to generate more added value through technical cooperation and find new ways to create and transfer knowledge.
Although a relatively small multilateral organization, the Corporation’s role as a development finance institution should not be underestimated. On the contrary, it should be nurtured and expanded. The impact of its numerous loans, particularly those to very small businesses, has been nothing short of life-changing for many of its customers. After all, it is at ground level where development should rightfully be measured. And though individual development outcomes may vary from one operation to the next, the overall impact of the IIC’s 700-plus projects approved to date—which have effectively channeled over US$3 billion in IIC resources to Latin America and the Caribbean over the past 25 years, or double that amount when factoring in cofinancing from its partners—is truly impressive.
The IIC’s new vision seeks to strengthen its financial role, not only because of its relevance to development, but also as a means of ensuring long-term financial sustainability and growth, capitalizing on the boundless creativity of the many people dedicated to the belief that working for the IIC is a powerful way of making a difference.
The vision embodied in the phrase “Think SME, Think IIC” is to make the Corporation the recognized authority for the development of small and medium-size enterprises in the Latin American and Caribbean region.