IIC Signs A Memorandum Of Understading With The Paraguayan-American Chamber Of Commerce

10/31/2004

Asunción, Paraguay- On October 29, 2004, the Inter-American Investment Corporation (IIC) signed a memorandum of understanding with the Paraguayan-American Chamber of Commerce to jointly explore exchanging information, cooperation, and technical assistance between the two institutions in order to foster and support financing and development of private companies in Paraguay. The IIC thus acknowledges the important role played by private companies in the economic and social development of the Republic of Paraguay.

The signing ceremony took place at the Paraguayan-American Chamber of Commerce's offices in Asunción, Paraguay. Signing for the Paraguayan-American Chamber of Commerce were Messrs. Roberto Chihan and Gerald McCulloch, President and Executive Director, respectively. Signing for the IIC was Mr. Santiago Cat, IIC Investment Officer.

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