The Inter-American Development Bank and the Inter-American Investment Corp. have established a private-sector partnership with The Abraaj Group, a leading private equity investing firm operating in growth markets. As agreed in a memorandum of understanding, signed last week in Washington, D.C. the partners aim specifically to promote private sector development and investment in Latin America and the Caribbean.
“In today’s dynamic business environment, small and medium-sized enterprises need to think and act globally” said the bank’s president, Luis Alberto Moreno.
The three entities will develop both financing and knowledge products as partnership opportunities, aiming to expand the regional private equity industry. In terms of financing, they said they will seek to mobilize resources for equity investments in high-growth, medium-sized companies, co-finance initiatives in areas of shared priority, and bring advisory and training services to Abraaj’s companies across Latin America and the Caribbean.
The collaboration will feature knowledge-sharing by promoting investment know-how and entrepreneurship through training, conferences, workshops and joint publications, among other activities.