IIC Signs Memorandum of Understanding with Banco de Inversión y Comercio Exterior, S.A. (BICE)

05/25/2004

BUENOS AIRES, Argentina - On May 26, 2004, the Inter-American Investment Corporation (IIC) signed a memorandum of understanding with Banco de Inversión y Comercio Exterior, S.A. (BICE) for up to US$20 million. The objective is to establish a direct cofinancing program for investment and expansion projects related to the export sector of small and medium–size enterprises. This program seeks to support the economic and social development of the Argentine Republic, especially those sectors that have a large participation of SMEs.
The signing ceremony took place in the offices of Banco de Inversión y Comercio Exterior S.A. in Buenos Aires, Argentina. Mr. Arnoldo Bocco, President, signed on behalf of BICE, and Mr. Jacques Rogozinski, General Manager, on behalf 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.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org