IIC And Banco Rabobank International Brasil S.A. Sign The Master Agreement For A US$15 Million Partial Credit Guarantee Program
08/27/2006Washington, D.C. On August 25, 2006, the Inter-American Investment Corporation (IIC) and Banco Rabobank International Brasil S.A. signed the master agreement for a US$15 million partial credit guarantee program.
Under this program, the IIC will provide partial guarantees for rural loans to Brazilian farmers originated and managed by Rabobank Brasil. Rabobank Brasil will fund the loans, which will range from US$5 million to US$10 million each. The IIC will provide a partial credit guarantee for any principal loan amount exceeding US$5 million, up to a maximum guarantee amount of US$5 million per guarantee.
This partial credit guarantee will enable Rabobank Brasil to expand its volume of business by up to 50%, allowing it to reach a greater number of farmers in Brazil. Rabobank expects that some five to ten farmers will benefit from this portfolio with an average loan size of US$8 million.
Signing for Banco Rabobank International Brasil S.A. were Executive Directors Pedro Paulo Teixeira and Gustavo Oubinha Barreiro. Michelle Ruocco, Vice President, and Brett Delfino, Executive Director, signed for Cooperatieve Centrale Raiffeisen-Boerenleenbank BA "Rabobank Nederland," New York Branch. General Manager Jacques Rogozinski signed for the IIC.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank 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. For more information on the IIC's activities, visit its Web site at www.iic.int.
Contact: Jacques Rogozinski
Telephone: (202) 623-3901