IIC Signs Shareholders Agreement For An Equity Investment To Finance Small And Medium-Size Infrastructure Projects In Latin America And The Caribbean

06/26/2001

SAN JOSE, COSTA RICA - On Monday June 25th in San Jose, Costa Rica, the Inter-American Investment Corporation (IIC)1 signed a shareholders agreement for establishing the Corporación Interamericana para el Financiamiento de Infraestructura (CIFI ). The IIC will invest $10 million in CIFI, which will finance small and medium-size infrastructure projects in Latin America and the Caribbean as a way to further the region's economic development and channel additional funding from private sources outside the region.

The signing ceremony took place in the Hotel Camino Real Intercontinental. The agreement was signed by Mr. Jacques Rogozinski, General Manager of the Inter-American Investment Corporation, and by representatives of CIFI's shareholders: Caja de Ahorros y Monte de Piedad de Madrid; Banco de Galicia y Buenos Aires, S.A.; Caixa Geral de Depósitos; Banco Centroamericano de Integración Económica; Primer Banco del Istmo; Banco del Pichincha; Republic Finance and Merchant Bank; and Unibanco S.A. The ceremony was preceded by a CIFI shareholders meeting at which Mr. Roldan Trujillo was appointed Managing Director of CIFI.

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1 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. The IIC has thirty-seven member countries: twenty-six in Latin America and the Caribbean and eight in Europe, plus the United States, Japan, and Israel. For further information on IIC's activities please visit our web site (www.iadb.org/iic) or contact Mr. Jorge Roldán at 202-623-3948.

Contact: Roldan Trujillo

Telephone: (202) 623-3922

Email: sylviasz@iadb.org