IIC To Hold Microfinance Seminar With Febraban, Latin American Federation Of Banks (FELAEBAN), Women'S World Banking (WWB), And Multilateral Investment Fund (MIF) In São Paulo, Brazil


São Paulo, Brazil - On November 17, 2006, the Inter-American Investment Corporation (IIC) will participate in the Banking for the Majority: An Opportunity for Latin American Banks, the Case of Brazil seminar hosted by FEBRABAN, FELABAN, Women's World Banking, and the Inter-American Development Bank's Multilateral Investment Fund. The event will gather leading commercial bankers from Brazil and other Latin American countries to review microfinance as it stands in Brazil today.

The requirements of low-income entrepreneurs in Brazil will be contrasted with the financial services that Brazilian banks have recently made available to them. Also on the agenda will be the degree to which financial services now on the market meet the developmental needs of Brazil's ten million low-income entrepreneurs and the alternatives that could be offered if these services are insufficient. The attendees will also look at new technologies, products, and associations that can provide low-income entrepreneurs with better access to financial services, as well as the policy improvements that the Brazilian government could adopt to put these services within their reach, not only so they can borrow but so they can rise out of poverty.

Mr. Steven Reed, IIC Deputy Manager, will open the seminar; Mr. Carlos Roa, IIC Financial Institutions and Structured Finance Coordinator, will moderate the panel on how the Brazilian market compares with markets elsewhere in Latin America. Representatives from Banco ABN AMRO and Banco Bradesco S.A. (Brazil); Banco del Trabajo (Peru); Banco ProCredit (Ecuador); Banco Azteca and Grupo Financiero Banorte (Mexico); and Banco Santander (Chile) will report on their experience with microfinance. Also attending will be more than forty representatives from other financial institutions from ten Latin American and Caribbean nations.

The Inter-American Investment Corporation, a multilateral financial institution that is part of the Inter-American Development Bank Group, 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, please visit www.iic.int.

Contact: Carlos Roa

Telephone: (202) 623-3955

Email: carlosroa@iadb.org