IIC Signs A US$7 Million Loan Agreement With Ecuador'S Banco Boliviariano

10/23/2005

Washington, D.C. (USA), October 24 – The Inter-American Investment Corporation (IIC) and Banco Bolivariano C.A. signed a US$7 million loan agreement today to channel financing to small and medium-size enterprises in Ecuador.

The funds that Banco Bolivariano C.A. onlends to small and medium-size companies will be used to finance working capital and the acquisition of fixed assets. They will also be to provide medium- and long-term financing to modernize and/or expand SMEs. This loan will benefit companies that operate in the export, trade, manufacturing, and service industries.

The signing ceremony took place in the Corporation's Washington, D.C., office. Mr. Miguel Babra Lyon, President, signed for Banco Bolivariano C.A.; signing for the IIC was Mr. Jacques Rogozinski, General Manager.

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.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org