BY THE YEAR 2005, U.S. EXPORTS TO LATIN AMERICA WILL EXCEED U.S. EXPORTS TO EUROPE, DONALD F. TERRY, MANAGER OF THE INTER-AMERICAN DEVELOPMENT BANK’S MULTILATERAL INVESTMENT FUND (MIF), PREDICTED AT A SYMPOSIUM HELD AT THE GEORGIAN CLUB DEC. 5.
MR. TERRY STRESSED THE ECONOMIC POTENTIAL OF LATIN AMERICA DURING HIS VISIT TO ATLANTA SEEKING PARTNERS FROM BOTH PRIVATE AND NON-PROFIT SECTORS WISHING TO PARTICIPATE IN THE REGION’S DEVELOPMENT.
HE SPOKE HERE AT THE INVITATION OF EDINGTON, WADE & ASSOCIATES INC., A PUBLIC AFFAIRS AND GOVERNMENT RELATIONS FIRM WITH OFFICES IN BOTH ATLANTA AND WASHINGTON D.C. WHICH REPRESENTS THE FUND.
THE MIF WAS LAUNCHED IN 1992 WHEN 22 DONOR COUNTRIES, PRIMARILY THE U.S. AND JAPAN, PLEDGED $1.2 BILLION TO ASSIST LATIN AMERICAN AND CARIBBEAN COUNTRIES STIMULATE DOMESTIC AND FOREIGN INVESTMENT.
AT THE TIME, A WAVE OF PRIVATIZATIONS THROUGHOUT THE REGION WAS ABOUT TO TAKE PLACE AND THE PARTICIPANTS WANTED TO BE CERTAIN THAT THERE WOULD BE SUFFICIENT SUPPORT FOR THESE TRANSACTIONS.
NOW THAT MANY PRIVATIZATIONS HAVE TAKEN PLACE SUCCESSFULLY, MR. TERRY SAID THE FUND IS SEEKING OUT OPPORTUNITIES TO SUPPORT THE DEVELOPMENT OF SMALL- TO MEDIUM-SIZED FIRMS.
THE FUND, WHICH IS ADMINISTERED BY THE WASHINGTON D.C.-BASED INTER-AMERICAN DEVELOPMENT BANK, FOCUSES ON SMALL BUSINESS DEVELOPMENT AND PROVIDES NO MORE THAN 50% OF THE TOTAL COMMITTED CAPITAL.
THE MIF ALREADY HAS ENTERED INTO PARTNERSHIPS WITH SOME OF THE U.S.’S LARGEST NON-PROFITS SUCH AS THE ROCKEFELLER FOUNDATION AS WELL AS LARGE CORPORATIONS, INCLUDING COCA-COLA, BUT IS WILLING TO WORK WITH MUCH SMALLER ORGANIZATIONS, ACCORDING TO MR. TERRY. EQUITY FUNDS WILL RANGE IN SIZE FROM $2 MILLION TO $10 MILLION.
FOR MORE INFORMATION, MR. TERRY MAY BE REACHED AT (202) 942-8211; FAX, (202) 942- 8291. CALL (404) 262-0888; FAX, (404) 262-1726 TO REACH EDINGTON WADE.