Efforts to support investments of Italian small and medium enterprises in IDB member countries in the region
ROME – The Inter-American Development Bank and UniCredit will foster investments of Italian small and medium-sized enterprises in Latin America and the Caribbean.
The agreement, presented during a Latin American and Caribbean Conference organized by the Italian Ministry of Foreign Affairs, will support the internationalization of the enterprises to supply financial and non-financial services, trade finance, syndication loans, and co-financing of public and private sector initiatives to promote infrastructure, financial and socio-economic development.
UniCredit will strengthen its commitment and presence in Latin America and the Caribbean. Currently, it counts with around 1,000 Italian small and medium-sized enterprises that have increased exports last year by 30% to over 12 billion euros (around US$16 billion).
“This agreement shows our commitment and support to the internationalization process of small and medium-sized enterprises,” said Gabriele Piccini, Italian Country Manager of UniCredit. “Our Bank, thanks to its multinational dimension, is an ideal partner for Italian enterprises that invest abroad and our goal is to be present in all emerging markets, including Latin America.”
A joint working group of the IDB and UniCredit has already started to identify operative instruments and explore opportunities to cooperate in the generation and dissemination of knowledge to begin activities in early 2012.
UniCredit will strengthen with the IDB the co-financing of public and private infrastructure projects and will set up credit lines for enterprises that wish to invest in Latin America and the Caribbean. Trade finance services will also be available for IDB member countries.
UniCredit is a major international financial institution with strong roots in 22 European countries and an overall international network present inapproximately 50 markets, over 9,500 branches and 160,000 employees as of 30 June 2011. In the CEE region, UniCredit operates the largest international banking network with nearly 3,900 branches.
The Group operates in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.
The Inter-American Development Bank is the leading multilateral financial institution for the development of Latin America and the Caribbean. The IDB offers financial products and resources to help countries in the region promote growth and reduce poverty and inequality in a sustainable way.
The IDB Office of Outreach and Partnerships promotes partnerships and mobilizes financial, non-financial and leveraging resources to strengthen development programs in the region.