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The purpose of the Corporation, established in 1986, is to promote the economic development of its regional developing member countries by encouraging the establishment, expansion, and modernization of private enterprises, preferably those that are small and medium-scale, in such a way as to supplement the activities of the Inter-American Development Bank (IADB).
In order to accomplish its purpose, the Corporation shall undertake the following functions in support of the enterprises:
- Assist, alone or in association with other lenders or investors, in the financing of the establishment, expansion and modernization of enterprises, utilizing such instruments and/or mechanisms as the Corporation deems appropriate in each instance;
- Facilitate their access to private and public capital, domestic and foreign, and to technical and managerial know-how;
- Stimulate the development of investment opportunities conducive to the flow of private and public capital, domestic and foreign, into investments in the member countries;
- Take in each case the proper and necessary measures for their financing, bearing in mind their needs and principles based on prudent administration of the resources of the Corporation; and
- Provide technical cooperation for the preparation, financing and execution of projects, including the transfer of appropriate technology.
The IIC is owned by 43 countries: Argentina, Austria, Bahamas, Barbados, Belize, Belgium, Bolivia Brazil, Chile, Colombia, Costa Rica, Denmark, Dominican Republic, Ecuador, El Salvador, Finland, France, Germany, Guatemala, Guyana, Haiti, Honduras, Israel, Italy, Jamaica, Japan, Mexico, Netherlands, Nicaragua, Norway, Panama, Paraguay, Peru, Portugal, Republic of Korea, Spain, Suriname, Sweden, Switzerland, Trinidad and Tobago, United States of America, Uruguay, Venezuela.