IIC, Nordic Development Fund and Nordic Investment Bank sign an agreement concerning mutual cooperation activities

09/22/2011

Washington, D.C., U.S.A. - On September 23, 2011, the Inter-American Investment Corporation (IIC), the Nordic Development Fund (NDF) and the Nordic Investment Bank (NIB) signed a memorandum of understanding that will provide a general framework to facilitate cooperation among the institutions to implement financial initiatives at the regional, national, and sectorial level, and to support institutional networking and capacity building in the financial domain in IIC’s member countries.

Areas of cooperation include, among others, to provide financing for environmental projects as well as energy efficiency and energy saving projects in order to mitigate climate change and to establish financial mechanisms and customized financial instruments in support of innovative and competitive SMEs.

"This agreement underscores our commitment to assist SMEs who require both financing for their energy efficiency and renewable energy projects, and technical assistance to strengthen their competitive position. We welcome the support of our partners, NIB and NDF, in these efforts," said IIC’s General Manager, Jacques Rogozinski.

The signing ceremony took place at the offices of the IIC at 12:30 p.m. Messrs. Johnny Akerholm, President and CEO, and Harro Pitkäen, Senior Director, signed for NIB. Mr. Helge Semb, Managing Director, and Ms. Leena Klossner, Deputy Director, signed for NDF. Mr. Jacques Rogozinski signed on behalf of the IIC.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.org

Contact: Jorge Roldán

Telephone: (202) 623-3948

Email: jorgero@iadb.org