Norway Joins Inter-American Investment Corporation

01/24/2002

THE NUMBER OF THE IIC MEMBER COUNTRIES INCREASES WASHINGTON, D.C. - on January 25,2004, Norway became the thirty-ninth member country of the Inter-American Investment Corporation at a signing ceremony held at the Inter-American Development Bank´s headquarters in Washington, D.C. The membership document was signed by Mr. Enrique V. Iglesias, President of the IDB and Chairman of the IIC Board of Directors, and by His Excellency Mr. Knut Volleb?k, Ambassador of Norway to the United States of America.

Also present at the ceremony were Mr. Michel Planque, Executive Director, for Denmark, France, Norway, Sweden, and Switzerland, Mr. Kristian Oedegaard, Minister-Counselor of the Embassy of Norway, and Norwegian nationals of the IDB Group.

Norway thus formally joined the Inter-American Investment Corporation as one of the five new member countries (Belgium, Finland, Norway, Portugal, and Sweden) that will bring to forty-two the number of shareholders of the IDB Group institution that provides financing for small and medium-size private enterprises in Latin America and the Caribbean. Sweden formally became a member in July 2001.

To fulfill its mission, the Corporation provides project financing in the form of direct loans, direct equity investments, lines of credit to local financial intermediaries, and investments in domestic and regional venture capital funds.

Contact: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org