IIC Sponsors Its Tenth Environmental Seminar For The Financial Sector In Cartagena De Indias, Colombia

07/24/2006

Cartagena de Indias, Colombia - The Inter-American Investment Corporation (IIC) held its tenth Environmental Management Course for the Financial Sector in Cartagena, Colombia from July 17 to 19. Thirty-three participants from nineteen financial institutions in seven countries (Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador and El Salvador) attended the seminar. The purpose of the seminar was to show financial institutions that are clients of the IIC how to develop their own environmental risk management systems and thus become more competitive and profitable.

The IIC has been organizing these seminars since 1999; since then, 300 participants representing more than 100 financial institutions have attended. With these seminars on environmental risk management the IIC promotes the exchange of information among financial institutions in Latin America and disseminates new market opportunities (such as green credit lines and the market for certified products). The institutions that actively manage for environmental risk are more efficient because they decrease environmental impacts, improve their image within the financial sector, and increase their probability of obtaining financing in the international market. The IIC broke new ground in Latin America with its seminar on environmental risk management systems for financial institutions. Now, seven years later, Latin American institutions are increasingly committed to developing environmental risk management systems like those being adopted by financial institutions worldwide.

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 stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.

Contact: Angela Miller/Jorge Roldán

Telephone: (202) 623-3936

Email: angelam@iadb.org