IIC Signs A Memorandum Of Understading With The Finnish Fund For Industrial Cooperation Ltd.

09/22/2005

Washington, DC- On September 23, 2005, the Inter-American Investment Corporation (IIC) signed a memorandum of understanding with the Finnish Fund for Industrial Cooperation Ltd. (FINNFUND), a development finance company for promoting and financing enterprises in emerging countries and majority owned by the Government of Finland.

The purpose of the memorandum is to provide a general framework to support FINNFUND and IIC efforts to identify and evaluate possibilities for financing or co-investing in investment projects by Finnish entrepreneurs in the Latin American and Caribbean region. IIC recognizes FINNFUND’s proficiency and experience in the assessment of the financial, economic, and technical viability of investment projects and in the promotion of developing the internationalization of Finnish enterprises.

The document was signed in the offices of the IIC by Mr. Jaakko Kangasniemi, Director General of the Finnish Fund for Industrial Cooperation Ltd and Mr. Jacques Rogozinski, General Manager 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. 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