05/24/2000

Thanks to the IIC's support, medium- and low-income Chilean families may become homeowners through lease-to-own arrangements WASHINGTON, D.C. - The Inter-American Investment Corporation (IIC ) signed a $7 million loan agreement and a $1 million share subscription agreement with Delta Leasing Habitacional, S.A. in Chile.

The signing ceremony took place on May 25, 2000 at Hotel Carrera in Santiago, Chile. Gonzalo Bernales, General Manager of Delta Leasing Habitacional, S.A.; Helmut Stehr, General Manager of Constructora Delta, S.A.; and Jacques Rogozinski, General Manager of the Inter-American Investment Corporation signed the documents.

The funding from the IIC will enable Delta Leasing to finance the acquisition of low-cost housing to be leased to individuals. In addition, the project entails the development and sale of lease-backed securities, a new instrument in Chile, to institutional investors such as insurance companies and pension funds.

Contact: Steven Reed

Telephone: (202) 623-3981

Email: stevenr@iadb.org