IIC Signs US$35 Million Loan Agreement With Molino Cañuelas S.A.C.I.F.I.A. And Molino Cañuelas S.A. Of Argentina

10/24/2006

Buenos Aires, Argentina.- On October 25, 2006, the Inter-American Investment Corporation (IIC) signed a loan agreement for up to US$35 million with Molino Cañuelas S.A.C.I.F.I.A. and Molinos Florencia S.A. (Molino Cañuelas).

This long-term financing from the IIC will strengthen Molino Cañuelas, Argentina’s top flour exporter, supporting its development and ensuring the continued industrial and commercial operation of its supply chain comprising more than 6,000 small and medium-size enterprises.

The loan agreement was signed at the offices of Molino Cañuelas S.A.C.I.F.I.A. in Argentina. Mr. Carlos Adriano Navilli, Vice President of Molino Cañuelas S.A.C.I.F.I.A. and Director of Molinos Florencia S.A., signed for Molino Cañuelas; Ms. Julieta Moreno, Project Attorney, signed for the IIC.

The Inter-American Investment Corporation is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) 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, please visit www.iic.int.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org