IIC Promotes Environmental Protection With A Seminar For Latin American And Caribbean Financial Institutions

01/10/2005

Miami, Florida – On December 1, 2, and 3, 2004, the Inter-American Investment Corporation (IIC) held its eight workshop on improving corporate environmental management for representatives of Latin American and Caribbean financial institutions. The main purpose of the workshop, titled Sustainable Finance: Competitive Business Advantages, was to provide financial institutions with training on how to develop environmental strategies as part of their small and medium-size private enterprise financing programs and to disseminate the comparative advantages that such programs provide. The workshop, cosponsored with the International Finance Corporation (IFC), a member of the World Bank Group, and the Private Sector of the Inter-American Development Bank, was attended by forty people representing twenty-five financial institutions from twelve countries in Latin America and the Caribbean.

The two and one-half days of presentations and workgroups provided instruction on environmental sustainability management systems as well as on how to include environmental analysis in the lending process and identify potential environmental and workplace health and safety issues. Carbon credits as a tool for clean development in Latin America were also discussed, as was the experience of one of the banks attending the seminar that is already implementing sustainable management systems.

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/Ángela Miller

Telephone: (202) 623-3948

Email: jorgero@iadb.org