IIC Grants A US$6 Million Loan For The Education Sector In Mexico

03/20/2006

Washington, D.C. - On February 21, 2006, the Inter-American Investment Corporation (IIC) approved a US$6 million loan to Universidad Autónoma de Guadalajara, A.C., (UAG) to upgrade and equip its medical school and Angel Leaño teaching hospital. The loan proceeds will be used to extend the reach of the local health system, providing lower- and middle-class residents of Guadalajara with access to high-quality medical services.

IIC's participation in this operation will have a significant socioeconomic impact by supporting the health sector and modernizing the infrastructure of and providing high-tech equipment for a private hospital; enhancing physician training and institution-building through technical support and consulting; and supervising the hospital modernization process while protecting 500 direct jobs. It will also provide community outreach by giving lower- and middle-class Guadalajarans access to medical services.

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 member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC's activities, visit its Web site at www.iic.int.

Contact: Sotero Arizu/Carlos Roa

Telephone: (202) 623-3907

Email: soteroa@iadb.org