IIC Sponsors Its Eleventh Environmental Seminar For The Financial Sector In Panama City, Panama

07/25/2007

More than 100 Latin American and Caribbean financial institutions have attended the IIC’s environmental management seminars

Panama City, Panama - The Inter-American Investment Corporation (IIC) held its eleventh environmental management course for the financial sector in Panama City, from July 18 to 20. Thirty-seven participants from nineteen financial institutions in nine countries (Brazil, Colombia, Costa Rica, Mexico, Nicaragua, Panama, Peru, Paraguay, and Uruguay) attended the seminar. The purpose of the seminar was to show financial institutions that are clients of the IIC how to develop their own environmental risk management systems and thus become more competitive and profitable.

The IIC has been organizing these seminars since 1999; since then, 333 participants representing more than 119 financial institutions have attended. With these seminars on environmental risk management the IIC promotes the exchange of information among financial institutions in Latin America and the Caribbean and disseminates new market opportunities (such as green credit lines and the market for certified products). The institutions that actively manage for environmental risk are more efficient because they decrease environmental impacts. They also improve their image within the financial sector and increase their likelihood of obtaining financing in the international market.

The IIC broke new ground in Latin America with its seminar on environmental risk management systems for financial institutions. Now, eight years later, Latin American and Caribbean institutions are increasingly committed to developing environmental risk management systems like those being adopted by financial institutions worldwide.

The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank (IDB) Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.

Contact: Angela Miller

Telephone: (202) 623-3936

Email: angelam@iadb.org