Iic Articles of Agreement

The Articles of Agreement for the International Investment Corporation (IIC) were signed in 1984 by member countries of the Inter-American Development Bank (IDB). The IIC is a subsidiary of the IDB and is focused on promoting private sector development in Latin America and the Caribbean through the provision of financing and technical assistance to companies and projects in the region.

The Articles of Agreement outline the purpose, functions, and governance structure of the IIC. The purpose of the corporation is to promote the economic development of Latin America and the Caribbean through the support of private sector investment. This is achieved through the provision of financing, technical assistance, and other services to private companies and projects in the region.

The IIC is governed by a Board of Governors, which is composed of one representative from each member country. The Board of Governors is responsible for setting policies, making decisions on loans and technical assistance, and overseeing the management of the corporation.

The Articles of Agreement also establish the capital structure of the IIC. The corporation’s capital is provided by member countries in the form of subscriptions to shares. Each member country’s subscription is based on its economic size and level of development. The Articles of Agreement also allow for the possibility of non-member countries and private individuals to contribute to the capital of the IIC.

In addition to its financial support, the IIC provides technical assistance to companies and projects in areas such as project development, environmental and social sustainability, and financial management. The IIC also offers a number of financial products, including loans, equity investments, and guarantees.

The IIC has played a significant role in promoting private sector development in Latin America and the Caribbean since its inception. Its work has helped to create jobs, increase economic growth, and reduce poverty in the region.

In conclusion, the Articles of Agreement for the International Investment Corporation are a critical component of the corporation’s governance structure. They outline the purpose, functions, and capital structure of the IIC, and provide a framework for its operations. Through its work, the IIC has made a significant contribution to the economic development of Latin America and the Caribbean, and its support will be critical in helping the region recover from the impacts of the COVID-19 pandemic.