IIC Holds Signing Ceremony of US$50 Million Loan Facility with Caja Madrid

03/21/2003

MILAN, Italy – The Inter-American Investment Corporation (IIC) held the ceremonial signing today of its first fixed-rate US$50 million, eight-year term loan facility from Caja Madrid, secured in response to a growing demand among small and medium–size companies for fixed-rate borrowing. This agreement demonstrates Caja Madrid’s continued support of the IIC’s mission despite the macroeconomic challenges the region is currently facing.

The ceremony was held at the Fiera Milano Congressi Centre in Milan during the Annual Meetings of the Boards of Governors of the Inter-American Development Bank and the Inter-American Investment Corporation. Signing for Caja Madrid were Mr. Enrique Tierno Pérez-Relaño, Managing Director of International Financial Institutions, Investment Banking. Signing for the IIC was Mr. Jacques Rogozinski, General Manager.

The Inter-American Investment Corporation is a multilateral 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