IIC Signs A Loan Agreement With Brazil'S Banco Industrial E Comercial S.A. (Bicbanco)

07/06/2004

SÃO PAULO, Brazil. On July 7, 2004, the Inter-American Investment Corporation (IIC) signed an A and B loan agreement with Banco Industrial e Comercial S.A. (BicBanco) for US$5 million and US$10 million, respectively, for making working capital loans to small and medium-size companies. This transaction is the result of the efforts the IIC has made to target small and medium-size Brazilian companies and to promote financing in this market segment.

The signing ceremony took place in the offices of Banco Industrial e Comercial S.A. in São Paulo, Brazil. Signing for BicBanco were Messrs. José Becerra de Menezes and Paulo Celso del Ciampo, President and Executive Director, respectively, of the International Division. Jacques Rogozinski, General Manager, signed on behalf of 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.

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Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org