IIC Signs A Line Of Credit For Up To US$30 Million With Banco De Comercio Exterior De Colombia S.A.

09/07/2005

Bogotá, Colombia - On September 8, 2005, the Inter-American Investment Corporation (IIC) signed an agreement with Banco de Comercio Exterior de Colombia S.A. (Bancóldex) for a line of credit for up to US$30 million. The resources will provide Bancóldex with medium- and long-term funding needed to finance exports of Colombian goods and services both directly and through financial intermediaries.

Banco de Comercio Exterior de Colombia S.A. is a semipublic corporation. It is a rediscount bank that provides financial services to foreign trade companies and to microenterprises, SMEs, and large companies targeting the domestic market. Bancóldex is the second largest second-tier bank in Colombia in terms of assets and the largest in terms of loan portfolio.

The signing ceremony took place in the offices of Bancóldex in Bogotá, Colombia. Mr. Gustavo Ardila, President, signed on behalf of Bancóldex, and Mr. Jacques Rogozinski, General Manager, signed for the IIC.

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.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org