IIC Signs Operation In Costa Rica’S Mortgage Finance Sector Promoting Access To The Housing Market

09/23/2007

Washington, D.C. - On September 24, 2007, the Inter-American Investment Corporation (IIC) signed a US$10 million loan agreement with Banco Improsa, S.A. The loan will fund the origination of mortgage-backed loans in Costa Rica.

With the proceeds of the IIC loan, the bank will be able to fund approximately 125 mortgage loans. This will also help boost the construction sector.

The signing ceremony took place at the IIC’s headquarters. Signing for Banco Improsa, S.A. was Mr. Franco Naranjo, General Manager. Mr. Jacques Rogozinski, General Manager, signed 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 member countries by encouraging 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, please visit www.iic.int.

Contact: Jacques Rogozinski/Carlos Roa

Telephone: (202) 623-3901

Email: sylviasz@iadb.org