IIC Signs A Memorandum Of Understading With The United Nations Industrial Development Organization

05/04/2005

Washington, DC- On May 4, 2005, the Inter-American Investment Corporation (IIC) signed a memorandum of understanding with the United Nations Industrial Development Organization (UNIDO), a specialized agency of the United Nations which has the primary responsibility of promoting industrial development in the developing countries and in countries with economies in transition.

The purpose of the memorandum is to provide a general framework to facilitate cooperation between UNIDO and IIC to promote financial initiatives at regional, national and sectoral level, and to support institutional networking and capacity building in the financial domain. Areas of cooperation, among others, will include promoting economic development and supporting private sector development; establishing a financial mechanism and customized financial instruments in support of innovative and competitive industrial companies, and facilitating investment flows. 

The document was signed by Mr. Jacques Rogozinski, General Manager of the IIC and Mr. Carlos Magariños, Director General of UNIDO.

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: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org