IIC Signs A Trade Finance Loan Agreement With Ecuador'S Banco Bolivariano, C.A.

11/05/2003

WASHINGTON, D.C. - On November 6, 2003, the Inter-American Investment Corporation (IIC) signed a US$5 million trade finance loan agreement with Ecuador's Banco Bolivariano, C.A. The purpose of the operation is to provide financing for small and medium-size Ecuadorian companies, thus contributing to the development of Ecuador's economy.

The signing ceremony took place in the IIC's offices in Washington, D.C. The loan agreement was signed by Mr. Miguel Babra Lyon, Executive President of Banco Bolivariano, C.A., and Mr. Jacques Rogozinski, General Manager of the Inter-American Investment Corporation. Also present was Mr. Víctor Manuel Acosta, Executive Director for Ecuador.

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, securities 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: Steven Reed/Rita Bettiol

Telephone: (202) 623-3981

Email: stevenr@iadb.org