Inter-American Investment Corporation to reallocate shares as part of $2 billion capital increase
In a signal of the commitment of member countries to the IDB Group and the Latin America and Caribbean region, demand by shareholders surpassed the available number of shares to be allocated.
The Board of Directors agreed to earmark a significant number of additional shares for China, Korea and Canada, the Corporation’s newest members, recognizing their increasing trade and investment links with Latin America and the Caribbean. Spain will also increase its participation in the Corporation’s capital, reflecting its strong ties to the Region.
The agreement will maintain the current majority stake of Latin American and Caribbean member countries in the Corporation.
Last March, the Board of Governors of the Inter-American Development Bank and the Inter-American Investment Corporation approved the consolidation of the IDB Group’s non-sovereign guaranteed activities into the Corporation. Effective January 1, 2016, the Corporation will offer a full array of private sector products and services previously offered across the IDB Group.