CIFI

in implementation

Project Description: The project involves setting up an institution for funding small and medium-size infrastructure projects (up to US$50 million US$60 million per project) in Latin America and the Caribbean as a way of furthering economic development in the region and enabling additional funding to be channeled from private sources outside the region. In addition to funding projects (either by originating its own operations or participating in projects carried out by any other institution) ICIF may provide financial consultancy services on subjects connected with the infrastructures in question. Forty percent of ICIF's capital shall come from multilateral institutions, and the remaining 60% shall come from private international financial institutions. The project also envisages setting up a fund that shall use its resources for carrying out social projects in the region. ICIF's private shareholders shall use up to 15% of the dividends to which they are entitled to provide the fund with resources. The IIC is considering subscribing up to 20% of ICIF's initial capital at an aggregate cost to the Corporation not to exceed US$10,000,000.