IIC Participates In An Investment Fund To Support The Development Of Small And Medium-Size Enterprises
08/30/2000The investment will benefit small and medium-size companies operating in the communications sector.
WASHINGTON, D.C. - On August 10, 2000, the Board of Directors of the Inter-American Investment Corporation (IIC) approved an equity investment of up to US$7.5 million in The CEA Latin American Communications Partners, L.P. The fund aims to make mainly equity and quasi-equity investments in privately held small and medium-size media and telecommunications companies in Latin America and the Caribbean. The fund has a target capitalization of US$100 million.
The funding provided by the IIC will enable The CEA Latin American Communications Partners, L.P. to (i) help strengthen and modernize small and medium-size companies in the communications industry; (ii) support government efforts to foster the growth of the communications industry through deregulation and the encouragement of foreign investments; (iii) support the spread of new technologies and business models, creating new investment opportunities; and (iv) contribute to the strengthening and development of the region's capital markets by increasing the liquidity available for investment in such markets.
The fund is expected to make at least ten investments during its expected eight-year life, helping create about 360 jobs and generating an estimated US$25 million in annual export earnings. It is also expected to contribute some US$100 million annually to the region's GDP after the fund is fully invested.
Contact: Roldan Trujillo
Telephone: (202) 623-3922