IIC Signs Loan Agreement With BBVA Banco Continental S.A
03/23/2010Washington, D.C. – The Inter-American Investment Corporation (IIC) signed an agreement for a loan of up to US$40,000,000 to BBVA Banco Continental, S.A., a Peruvian financial institution that, along with its subsidiaries, is a business conglomerate that provides comprehensive financial services. Its subsidiaries are Continental Bolsa, Continental SAF (mutual fund management company), Inmuebles y Recuperaciones Continental S.A., and Continental Sociedad Titularizadora S.A.
The bank’s core business is financial intermediation; its operations are focused on developing the following business areas: retail banking, corporate banking, wholesale banking, and treasury management. Continental is the second largest bank in Peru.
The purpose of the project is to provide financing to small and medium-size Peruvian enterprises for working capital or for purchasing fixed assets and machinery originating in IIC member countries. The loan agreement was signed in Peru. Signing for BBVA Banco Continental S.A. were Eduardo Torres Llosa Villacorta, CEO, and Luis Ignacio De La Luz Dávalos, Deputy General Manager. General Manager Jacques Rogozinski signed for the IIC.
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 2009, the IIC reached US$1.4 billion in assets and approved forty operations channeling US$299.8 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.
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