IIC Provides Argentina'S Río De La Plata With Financing To Expand Its Terminals

05/29/2006

Washington, D.C. - On May 30, 2006, the Inter-American Investment Corporation (IIC) approved a US$10 million loan to Terminales Río de la Plata, S.A. (TRP). TRP will use the proceeds to fund its 2006-2007 investment program and to refinance debt.

TRP is an Argentine company that holds a twenty-five year concession to operate Puerto Nuevo port terminals 1, 2, and 3 in the city of Buenos Aires. TRP's core business is containers, although it handles general cargo and vehicles as well. TRP is the main terminal of the port of Buenos Aires, handling 40 percent of all containers that pass through the port. The IIC will make a significant contribution and benefit Argentina by providing funding to expand the port and make it more efficient and able to meet growing demand in the years to come.

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.

Contact: John Beckham/Fernando Luciani

Telephone: (202) 623-3984

Email: johnbec@iadb.org