Inter-American Investment Corporation to reallocate shares as part of $2 billion capital increase
China, Korea, Canada and Spain to increase stake in corporation; demand exceeds available shares
The Board of Directors of the Inter-American Investment Corporation (the Corporation) has reached an agreement to reallocate shares as part of the institution’s $2.03 billion capital increase.
In a signal of the commitment of member countries to the IDB Group and the Latin America and Caribbean region, demand by shareholders surpassed the available number of shares to be allocated.
The Board of Directors agreed to earmark a significant number of additional shares for China, Korea and Canada, the Corporation’s newest members, recognizing their increasing trade and investment links with Latin America and the Caribbean. Spain will also increase its participation in the Corporation’s capital, reflecting its strong ties to the Region.
The agreement will maintain the current majority stake of Latin American and Caribbean member countries in the Corporation.
Last March, the Board of Governors of the Inter-American Development Bank and the Inter-American Investment Corporation approved the consolidation of the IDB Group’s non-sovereign guaranteed activities into the Corporation. Effective January 1, 2016, the Corporation will offer a full array of private sector products and services previously offered across the IDB Group.
About the IIC
The Inter-American Investment Corporation (IIC) is a multilateral investment institution that is part of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote economic development in its regional developing member countries by fostering the expansion and modernization of private enterprises in a manner complementing the activities of the IDB. In March of 2015, the Board of Governors of the IDB and IIC approved the consolidation of the IDB Group’s private sector activities into the IIC. Effective January 1, 2016, the IIC will offer a full array of private sector products and services previously offered across the IDB Group.
Contact: José Luis Lobera
Telephone: (202) 623-2846