Chapter 4 The Inter-American Investment Corporation and Private Sector Development in Latin America

Abstract

The Inter-American Investment Corporation (IIC) is a multilateral investment bank, created under the auspices of the Inter-American Development Bank (IDB), to support the private sector in Latin America, especially the small and medium-sized projects. The IIC started operations in November 1989. Its mandate is to promote the economic development of its regional developing member countries by encouraging the establishment, expansion, and modernization of private enterprises, especially those of small and medium size, through long-term loans, equity, and advisory services. The IIC’s projects must be commercially viable undertakings for which traditional financing would otherwise not be available under adequate terms and must be majority owned by nationals of Latin America or the Caribbean.