IIC Signs A Loan Agreement For Up To US$3 Million With Envases Del Litoral Enlit S.A. In Ecuador

09/12/2006

Guayaquil, Ecuador - On September 13, 2006, the Inter-American Investment Corporation (IIC) signed a loan agreement for up to US$3 million with Envases del Litoral Enlit S.A. With IIC financing, this Ecuadorian can manufacturing company will be able to increase its production capacity, improve its production efficiency, and lower its air emissions.

Enlit S.A. manufactures cans for food for human consumption, such as tuna fish, seafood, fruit, and vegetables, as well as metal containers for industrial products. Fisheries and agribusiness are key sectors of Ecuador’s economy because they create jobs, generate export revenue, and, together, account for some 27% of the nation’s total exports. Enlit S.A. contributes to Ecuador's export process because most of the cans it manufactures are sold to exporters of locally produced food.

The loan agreement was signed at the Hilton Colón Guayaquil hotel. Signing for Envases del Litoral Enlit S.A. were Mr. Xavier Félix Simon Isaías, Executive President, and Jaime Roberto Simon Isaías, Executive Vice President, and signing for the IIC was Mr. Jacques Rogozinski, General Manager.

The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank Group (IDB). 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. For more information on the IIC's activities, visit its Web site at www.iic.int.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org