CALGARY, Canada - The Inter-American Investment Corporation (IIC) and Mizuho Corporate Bank, Ltd. signed a loan agreement for $50 million during the twenty-sixth annual meeting of the IIC Board of Governors. The loan that Mizuho Corporate Bank Ltd. is granting the IIC, maturing in January 2015, is part of the IIC's funding strategy and will enable the IIC to continue extending credit to SMEs in the region on competitive terms.
Akihiro Hashimoto, Executive Officer and General Manager, Americas Financial Products Division, Mizuho Corporate Bank, stated, "IIC's leadership and support to SMEs has been a very positive contribution to the development of the region. This transaction is a great reflection of our mutual and longstanding close relationship with IIC.”
“This new financing that Mizuho is granting the IIC reflects the entities’ close relationship and their commitment to development in the region. Mizuho facilitates our access to Asian financial markets and is an important participant in A/B operations for our clients in Latin America, which makes it one of the Corporation's key financial partners,” said Jacques Rogozinski, General Manager of the IIC.
The signing ceremony took place at the IIC’s offices in Calgary Telus Convention Center. Mr. Akihiro Hashimoto, Executive Officer and General Manager for the Americas Financial Products Division, signed for Mizuho Corporate Bank, Ltd.; Mr. Jacques Rogozinski, General Manager, signed on behalf of the IIC.
About Mizuho Corporate Bank, Ltd.
Mizuho Corporate Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of clients, focusing its efforts on serving major corporations, financial institutions, and public sector entities. A relationship management approach to serving clients enables Mizuho Corporate Bank, Ltd., together with affiliates including Mizuho Securities, to develop customized solutions in areas such as corporate, structured and project finance, investment banking, transaction banking and risk management. With offices in more that 30 countries, Mizuho Corporate Bank, Ltd. offers clients both localized service and the extensive reach of a global business network. Mizuho Corporate Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of over $1.9 trillion as of December 31, 2010.
About the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. 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. It does so by providing 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 2010, the IIC reached $1.4 billion in assets and approved forty-nine operations channeling $374.8 million to SMEs in the region.