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IDB, UniCredit sign agreement to promote economic development in Latin America and the Caribbean

Efforts to support investments of Italian small and medium enterprises in IDB member countries in the region

 

 

The Inter-American Development Bank and UniCredit signed today a memorandum of understanding to foster investments of Italian small and medium-sized enterprises in Latin America and the Caribbean.

 

The agreement 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 E12,000 million.

 

The Inter-American Development Bank is the main source of multilateral financing,  promoting since 1959 the sustainable economic, social and institutional development of Latin America and the Caribbean.

 

"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.

 

Rome, October 5th 2011

 

 

Contacts:


UniCredit Media Relations:
Tel. +39 02 88628236;
e-mail: MediaRelations@unicredit.eu