Sweden Joins The Inter-American Investment Corporation

07/01/2001

THE NUMBER OF THE IIC MEMBER COUNTRIES INCREASES WASHINGTON, D.C. - On July 2, 2001, Sweden became the thirty-eighth 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. Jan Eliasson, Ambassador Extraordinary and Plenipotentiary of His Majesty the King of Sweden at Washington.

Also present at the ceremony were Mr. Georges Cahuzac and Mr. Flemming Nichols, Executive Director and Alternate Executive Director, respectively, for Denmark, France, and Switzerland; and Ms. Mirja K. Peterson.

Sweden 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 enterprises in Latin America and the Caribbean. The admission of new members also completes the $500 million capital increase process approved by member countries in December 1999, which raises to $3 billion the IIC's capacity to lend to and invest in small and medium-size enterprises in Latin America and the Caribbean.
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: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org