Page 30 - Caribbean-Central America Profile 2018

REGIONAL

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

INTERNATIONAL FINANCE profit investment and development institution. MULTILATERAL INVESTMENT
CORPORATION (IFC) The Corporation’s financing activities are GUARANTEE AGENCY
The International Finance Corporation (IFC), conducted primarily through LAAD Americas In the Caribbean Basin region, members include:
founded in 1956, is the private sector arm of N.V., a wholly-owned credit institution licensed Antigua and Barbuda, Bahamas, Barbados,
the World Bank Group. IFC also is the largest in Curaçao and operating under the supervision Belize, Colombia, Costa Rica, Dominica,
multilateral source of equity and loan finance for of the Centrale Bank Van Curaçao en Sint Dominican Republic, El Salvador, Grenada,
private sector projects in developing countries. Maarten. In addition to the Representation Guatemala, Guyana, Haiti, Honduras, Jamaica,
Its mission is to promote sustainable private Headquarters in Curaçao (for LAAD Americas Nicaragua, Panama, St. Kitts and Nevis, St.
sector investment in developing countries, N.V.) the Corporation has twenty regional Lucia, St. Vincent, Suriname, Trinidad and
helping to reduce poverty and improve living
standards. IFC’s resources come from its offices in Latin America, and an administrative Tobago, and Venezuela.
member countries paid-in capital, retained office in Coral Gables, Florida. MIGA’s primary mandate is to promote direct
earnings, capital markets borrowings, loan re- LAAD finances and develops private foreign investments in developing member
flow and sales of investments. IFC credit is agribusiness projects in Latin America and the countries, by providing political risk insurance
rated AAA by the major rating agencies. IFC Caribbean involving all phases of production, to foreign investors and investment marketing
has 178 member countries that collectively
determine policies and approve investments. To processing, storage, services, technology and and advisory services to host countries. MIGA’s
join IFC, a country must first be a member of the marketing in the fields of agriculture, livestock, guaranties protect against the risks of currency
World Bank (IBRD). IFC’s corporate powers forestry and fishing. transfer, expropriation, breach of contract, and
are vested in its Board of Governors, to which LAAD provides loans for the purpose of starting war and civil disturbance. These risks can be
member countries appoint representatives. Its a new business or expanding an existing one. covered individually or as a package. MIGA
member countries provide IFC’s share capital, can issue guarantees up to 15 years and in
and voting is in proportion to the number of The Company specialises in funding companies exceptional cases, up to 20 years.
shares held. IFC’s authorised capital is US$2.45 that export part or all of their production to
billion. international markets. Most of LAAD’s funding MIGA can only insure new investments
is used to purchase fixed assets for productive originating in any member country and destined
International Finance Corporation Latin purposes, but the institution also will consider for any developing member country other
America and Caribbean Strategy Manager funding for permanent working capital and than the country from which the investment
2121 Pennsylvania Avenue, N.W. limited refinancing of existing debt. originates. These new investments can be green
Washington, D.C. 20433 field investments or new contributions for
Tel: (202) 473-1000 Latin American Agribusiness Development expansion, modernisation or privatisation of
Website: www.ifc.org Corporation
2800 Ponce de Leon Blvd existing investments.
LATIN AMERICAN AGRIBUSINESS Suite 1200 Multilateral Investment Guarantee Agency
DEVELOPMENT CORPORATION Coral Gables, Florida 33134 1818 H Street N.W., Suite 1200,
(LAAD) Tel: (305) 445-1341 Washington, D.C. 20433
Latin American Agribusiness Development Fax: (305) 446-8447 Tel: (202) 458.2538
Corporation, S.A., is a privately owned, for- Fax: (202) 522.0316
Website: www.miga.org

A-24 Caribbean-Central American Action