IIC and NAFIN Sign Cooperation Framework Agreement


Framework agreement signed during Twenty-eighth Annual Meeting of the IIC Board of Governors in Panama

Panama City, Panama, March 17, 2013 — The Inter-American Investment Corporation (IIC) has signed a cooperation framework agreement with Nacional Financiera (NAFIN), a development bank owned by the Mexican government that supports small and medium-sized enterprises (SMEs). The agreement establishes a framework for strategic cooperation, with a view to implementing the IIC’s FINPYME initiative in Mexico. The agreement also seeks to promote and implement other initiatives developed by the IIC and NAFIN to support private enterprise, specifically SMEs.

Developed by the IIC, FINPYME is designed to help SMEs improve their competitiveness. It provides selected companies with a diagnostic review of their present condition, and identifies specific areas where they might benefit from technical assistance.

For its part, NAFIN is joining forces with the IIC efforts to improve the competitive position of Mexican businesses and increase their access to sources of financing that will enable them to pursue expansion and development projects, thus contributing to Mexico’s economic and social development.

The agreement was signed by Jacques Rogozinski, director general of NAFIN, and Carl Muñana, general manager of the IIC.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises. We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2012, the IIC approved 73 operations for a total amount of US$378.9 million. Throughout our history, we have approved nearly 800 direct loans to SMES and financial intermediaries, for a total of US$4.8 billion. An additional US$2.8 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC’s activities, visit www.iic.org

Contact: Jorge Roldán

Telephone: +1 (202) 623-3948

Email: jorgero@iadb.org