IIC Promotes Environmental Protection

06/30/2005

Miami, Florida –The Inter-American Investment Corporation (IIC) held its ninth workshop on improving corporate environmental management for representatives of Latin American and Caribbean financial institutions on May 25, 26, and 27, 2005. The purpose of the workshop, titled Competitive Business Advantage: Environmental Management in the Financial Sector, was to train financial institutions in developing environmental strategies for their small and medium-size private enterprise financing programs, as well as to raise awareness of the comparative advantages that these programs entail. The workshop, cosponsored by the International Finance Corporation (IFC), a member of the World Bank Group, and by the Private Sector Department of the Inter-American Development Bank, was attended by forty-six people representing thirty financial institutions from seventeen countries in Latin America and the Caribbean.

The three days of presentations and working group sessions covered environmental sustainability management systems, how to incorporate environmental analysis in the credit process, and how to identify potential environmental problems and opportunities. Two of the banks attending the seminar that are already implementing sustainable management systems provided information on their experience.

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. For more information on the IIC's activities, visit its Web site at www.iic.int.

Contact: Jorge Roldán/Angela Miller

Telephone: (202) 623-3948

Email: jorgero@iadb.org