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IDB, INTESA SANPAOLO sign memorandum of understanding to foster cooperation

ROME  Inter-American Development Bank President, Luis Alberto Moreno, and Intesa SanPaolo Executive Vice Chairman of the Management Board, Marcello Sala, signed today a memorandum of understanding to work together to promote inclusion and sustainability in the financial industry in Latin America and the Caribbean.

The two organizations, which already have ongoing collaboration in areas such as trade finance and financing of infrastructure projects, will explore ways to support the financial industry as a way of balancing financial and social returns on investments, operating with transparency, expanding market coverage and penetration, and protecting the environment.

The areas of potential future cooperation include provision of financial and nonfinancial services to small and medium-sized enterprises, trade finance, co-financing of public and private sector infrastructure projects, participation in IDB B-loans, and opportunities for knowledge generation and dissemination in promoting principles of sustainability in the banking sector.

Intesa SanPaolo S.p.A.
The main private financial institution in Italy, with an international dimension, has among its priority objectives to increase its collaboration with multilateral financial institutions on matters related to financial services, directly or through its controlled banks and companies The organization is intensifying its efforts of cooperation with Latin America and the Caribbean.

Inter-American Development Bank
The main source of multilateral financing and expertise for sustainable economic, social and institutional development in Latin America and the Caribbean. The IDB Group includes the Inter-American Development Bank, the Inter-American Investment Corporation (IIC) and the Multilateral Investment Fund (MIF). The IIC focuses on support for small and medium-sized businesses, while the MIF promotes private sector growth through grants and investments, with an emphasis on microenterprise.