IIC And Colombia'S Caja De Compensación Familiar De Antioquia Sign Memorandum Of Understanding

09/10/2004

MEDELLĺN, Colombia--On September 11, 2004, the Inter-American Investment Corporation (IIC) signed a memorandum of understanding with Caja de Compensación Familiar de Antioquia (Confama) in Medellín, Colombia. The main purpose of the memorandum is to review a proposal for financing in the form of an IIC loan. CONFAMA will use the US$3 million loan to grant short- and medium-term financing to small and medium-size companies affiliated with Caja to meet their working capital and fixed asset purchase requirements.

The signing ceremony took place in Medellín, Colombia. Confama Director Mrs. María Inés Restrepo de Arango signed for Caja de Compensación Familiar de Antioquia (Confama), and Mr. Enrique V. Iglesias, Chairman of the Board of Executive Directors, signed for the IIC.

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional borrowing member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org