IIC And The Government Of Italy Sign Implementation Agreement For The Italian Special Trust Fund

10/22/2002

BUENOS AIRES, ARGENTINA -The Inter-American Investment Corporation (IIC) and the Government of Italy signed on October 23, 2002 the implementation agreement for the establishment of the Italian Special Trust Fund for the Sustainable Development of Small and Medium-Sized Enterprises in Argentina. The Government of the Republic of Italy had previously agreed to grant the Argentine Republic a €75,000,000 assistance line of credit for a program in favor of Italo-Argentine and Argentine Small and Medium-Sized Enterprises to support projects with a significant social impact. Pursuant to the Implementation Agreement signed today and an earlier Framework Agreement signed on April 17 of this year, the IIC will provide technical advisory services in the implementation of the Italian-Argentine program.

The signing ceremony took place at the residence of the Italian Ambassador in Buenos Aires, Argentina. The agreement was signed by Mr. Jacques Rogozinski, General Manager of the IIC, and Mr. Roberto Nigido, Ambassador of Italy in Argentina.

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: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org