IIC Signs A Memorandum Of Understanding With The Small Business Corporation Of Korea (SBC)

08/27/2006

Washington, D.C.- On August 28, 2006, the Inter-American Investment Corporation (IIC) signed a memorandum of understanding with the Small Business Corporation of Korea (SBC) to provide a general framework that will promote business development between Korean SMEs and SMEs in Latin America and the Caribbean. It will also help create institutional networking that will contribute to mutual economic cooperation among the parties.

The fields of cooperation may promote mutual cooperation and support between SMEs of both Korea and Latin America and the Caribbean; promote partnerships and sharing of experiences and lessons learned in the development and support of SMEs; exchange information on SME-related subjects and issues of common interest; identify potential business opportunities; and organize conferences and seminars to disseminate information held by the parties.

SBC is a nonprofit government agency implementing policies and programs to support small and medium-size private sector enterprises of Korea in a wide range of services, such as financial assistance, consulting, training, marketing assistance, and international cooperation.

The signing ceremony took place at the IIC headquarters. Signing for the Small Business Corporation of Korea was Mr. Beom-Do Heo, President. Mr. Jacques Rogozinski, General Manager, signed for the Inter-American Investment 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. 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