IIC Approves New Code of Ethics

12/27/2013

Revised code updates guidelines for ethical conduct of IIC international civil servants

Washington, D.C., December 27, 2013 — The Inter-American Investment Corporation (IIC) has approved a new Code of Ethics and Professional Conduct for its employees, further bolstering protections for whistleblowers and maintaining the IIC’s alignment with best practices of the Inter-American Development Bank (IDB) Group.

“Excellence in ethical and professional conduct is critical to achieving our development mission”, noted Carl Muñana, the IIC’s general manager. “The new Code establishes core values and guiding principles for IIC employees and is the new standard for all our activities.”

The Code includes a series of enhancements, covering new subject areas including the use of social media. It also provides better guidance on themes such as respect in the workplace and supervisor duties.

The IIC will work in close collaboration with the IDB’s Ethics Office to implement the IIC’s new Ethics Code and Procedures. All IIC employees will receive ethics training and additional training will be provided for supervisory staff.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2012, the IIC approved more than 70 operations totaling some US$400 million. Since its inception in 1989, the IIC has approved approximately 800 direct loans to SMEs and financial intermediaries, for a total of US$4.8 billion. An additional US$2.8 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.

Contact: Monika Russel-Wood

Telephone: +1 (202) 623-3877

Email: monikas@iadb.org