IIC Signs A Local Currency Loan Agreement With Colombia'S Leasing De Occidente S.A.

12/05/2005

Bogotá, Colombia – On December 1, 2005, the Inter-American Investment Corporation (IIC) signed a COL$46 billion (approximately US$20 million) loan agreement with Leasing de Occidente S.A.

The proceeds of this loan will be used to finance leasing operations for eligible companies. These operations will be denominated in Colombian pesos and will not exceed COL$2.3 billion per client. The average term will be from three to five years. Some 200 small and medium-size enterprises are expected to benefit from this transaction.

The signing ceremony took place in the offices of the Inter-American Development Bank and the Inter-American Investment Corporation in Bogotá, Colombia. Mr. Agustín Esguerra Restrepo signed for Leasing de Occidente S.A., and Mr. Jacques Rogozinski, General Manager, signed for the Corporation.

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: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org