International Development Grant
Support to the Inter-American Investment Corporation (IIC) - 2014-2015
Project Number: CA-3-M013612001
Status: Closed
Country/Region: Unknown
Regional Focus:
Maximum Contribution: $1,645,200.00
Start Date: March 20, 2014
End Date: December 31, 2015
Duration: 1.8 years
Project Description
This contribution represents Canada’s institutional support to the Inter-American Investment Corporation (IIC) which is part of the Inter-American Development Bank (IDB) Group. The IIC is a development finance institution that promotes the economic development of countries by encouraging the establishment expansion and modernization of small and medium-sized private enterprises (SMEs). The IIC provides financing to private sector companies specifically targeting SMEs in the form of loans equity investments and lines of credit to financial intermediaries. Projects eligible for financing have to demonstrate a return on investment as well as foster economic development. This can include projects that create jobs broaden capital ownership generate net foreign exchange income facilitate transfers of resources and technology use local resources encourage local savings or promote economic integration of Latin America and the Caribbean.
Expected Results
The expected intermediate outcomes for the project include: (1) increased business success and promotion of local resources; (2) increased economic sustainability and job creation in Latin America and the Caribbean; (3) improved private sector development and access for small and medium-sized enterprises to capital markets; and (4) improved environmental and social standards in IIC projects.
Progress & Results Achieved
2015 marked the 30th Anniversary of the IIC. It was also an important year in that the Inter-American Development Bank (IDB) Group re-organized its private sector activities into the IIC making it the Bank Group’s primary entity responsible for private sector lending to Latin America and the Caribbean. Results achieved as of December 2015 include: (1) approved in excess of US$6.0 billion in loans guarantees and equity investments across more than 1 000 operations supporting small and medium sized enterprises (SMEs) and financial intermediaries in Latin America and the Caribbean (including US$346.4 million in 2015); (2) mobilized an additional US$3.9 billion through syndicated loans and co-financing (including US$166 million in 2015) leveraging the resources provided by the IIC and enhancing its development impact; (3) approved US$28.5 million under its FINPYME** Credit program targeted at the smallest SMEs available across 17 of the region’s more vulnerable economies benefiting over 100 business; (4) provided US$14.3 million in advisory and training services to more than 11 000 SMEs (including US$4.5 million benefiting 1 600 companies in 2015) through its FINPYME suite of business services to help SMEs improve competitiveness adopt best practices in governance boost energy efficiency and increase export capacity; (5) launched the FINPYME mobile application to help business owners improve the competitiveness of their companies through a number of rapid assessment tools and calculators which was downloaded by more than 3 000 users; (6) inaugurated the first FINPYME Forum attracting 450 banking professionals financial technology providers private sector companies and other key actors from 42 countries to discuss how to make financial services more widely available to SMEs through technology; (7) approved the Financing Program for Small Financial Intermediaries (IFIP) to help small and medium-sized financial institutions diversify their funding sources to bet
Key Information
Executing Agency:
IIC – Inter-American Investment Corporation
Reporting Organization:
Global Affairs Canada
Program:
YFMInternaAssistPartnershp&Programing Br
Last Modified:
September 19, 2025
Development Classifications
DAC Sector:
Aid Type: Core contributions to multilateral institutions
Collaboration: Multilateral
Finance Type: Encashment basis
Selection Mechanism:
Pre-APP