IIC helps strength partnerships between Italian and Latin American SMEs


Turin, Italy – On Tuesday, October 20, 2009, representatives of the Inter-American Investment Corporation (IIC) participated in a conference on business opportunities in Latin America for Italian SMEs in the environment and energy sectors, organized by the Turin Chamber of Commerce, the International Center for the Piedmont region, and the IIC.

This event took place in the context of the IIC’s Italian Development Program that seeks to foster cooperation and partnerships to promote business opportunities between Italian companies and Latin American and Caribbean enterprises. The event specifically seeks to create a network of Piedmontese, Latin American, and Caribbean SMEs that are interested in developing joint business opportunities involving trade, investment, and transfer of know-how and technology. Participants in the event also had the opportunity to have B2B meetings with IIC representatives.

According to Antonello Bove, from the IIC’s Italian Development Program, "The IIC is a catalyst to attract other resources, such as additional funding, technology, and know-how, which it mobilizes via direct and indirect financing. The IIC also helps identify partners for joint ventures, a model that can be replicated in other European member countries of the IIC."

"The energy and environmental technologies sectors will grow significantly within the European Union, but it is developing economies such as those of Latin America and the Caribbean that offer the best growth opportunities. This is why the agreement with the Inter-American Investment Corporation and the resulting business support for internationalization are so important for Piedmontese companies in these and other sectors: in 2008 exports from Piedmontese companies to Latin America and the Caribbean totaled the equivalent of almost 1.1 billion euros—a 21% increase over 2007," said Alessandro Barberis, president of the Turin Chamber of Commerce and president of the Association of European Chambers of Commerce and Industry, Eurochambres.

The IIC is a multilateral financial institution that is a member 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. In 2008, the IIC reached US$1.5 billion in assets and approved sixty-four operations channeling US$300.5 million to SMEs in the region. 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. For more information on the IIC’s activities, please visit www.iic.int.

Contact: Jorge Roldán / Antonello Bove

Telephone: (202) 623-3948

Email: jorgero@iadb.org