Italian Development Program
The Italian Development Program is an Inter-American Investment Corporation initiative aimed at building a network of Italian, Latin American, and Caribbean enterprises linked by import, export, and foreign direct investment operations.
The purpose of the program is to identify Latin American and Caribbean SMEs that either have a working relationship with or are considering doing business with Italian firms, and in need of financing for their expansion plans. Eligible SMEs will be considered for IIC financing.
The Italian Development Program identifies Latin American and Caribbean business partners for Italian firms to help strengthen supply chains and promote exports (technology transfers) and foreign direct investment.
Globalization has made geographic diversification of the different stages of production increasingly important for companies all over the world. Teaming up with suppliers in other countries is essential for lowering costs and raising quality, and Latin America and the Caribbean offer important opportunities in this area. The Italian Development Program will help identify supply chain partners and refer them to the IIC for financing.
The Latin American and Caribbean region accounts for a large percentage of worldwide purchases of Italian technology. The Italian Development Program seeks to identify Latin American and Caribbean companies interested in investing in growth through procurement of Italian technology such as machinery, tools, and production lines. By financing these investments, the IIC is creating value for all of the companies involved, while boosting their revenues and competitiveness.
Italian companies are also making direct investments in Latin America and the Caribbean. This is one of the top five regions of the world for Italian investment through affiliates, joint ventures, equity alliances, and long-term financial partnerships. The Italian Development Program helps facilitate financing for investments contributing to economic integration and creating the necessary local know-how for successful development.
Italy, Latin America, and the Caribbean
The historical, cultural, and economic ties linking Italy with Latin America and the Caribbean offer important economic and trade opportunities, particularly with the growth in global trade and investment. In fact, the Latin American and Caribbean region is a natural area of expansion for Italy’s economic system. The presence of Italian communities in many Latin American and Caribbean countries make them a natural springboard for the entry of Italian firms, whether through trade, business partnerships, or direct investment, and their common culture makes them extremely receptive to Italian products. Favorable market conditions are another plus, buoyed by Latin America’s population of close to 600 million people with rising levels of education and positive outlook for medium- and long-term development and political stability.