IIC Signs A US$2 Million Loan Agreement With Monex Financiera S.A. De C.V. SOFOL


Washington, D.C. - On June 28, 2006, the Inter-American Investment Corporation (IIC) signed a US$2 million loan agreement with Monex Financiera S.A. de C.V. Sofol to provide Mexican SMEs with financing for working capital and foreign trade activities.

Both types of financing will be provided under programs with the Export Import Bank of the United States (Ex-Im Bank). Financing for working capital will consist of cofinancing the uninsured portion of the short-term loans made under Ex-Im Bank's insurance program, and foreign trade financing will be made available through Ex-Im Bank's guarantee or insurance programs.

The signing ceremony took place at IIC headquarters. Mr. Jorge Garza, CEO, signed for Monex Financiera S.A. de C.V., and Mr. Steve Reed, Deputy General Manager, signed for the IIC.

The Inter-American Investment Corporation, a multilateral financial institution that is part of the IDB 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 IIC's activities, visit its Web site at www.iic.int.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org