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Signature de l'accord
Yesterday, 30 March, at the IDB-IIC Annual Meetings in Asunción, Paraguay, the leading European Development Finance Institutions Proparco, FMO, and DEG executed a co-financing agreement with IIC. This agreement formalises a successful track record of working together with the goal of increasing private sector financing to Latin America and the Caribbean.

This agreement builds on a successful history of cooperation that most recently included the Kingston Container Terminal transaction . Financing was provided by IIC, Proparco, DEG and FMO. The participation of DEG and FMO was coordinated by Proparco. This transaction recently received the North American Port Deal of the Year Award by the magazine IJ Global.

The framework establishes a number of guiding principles in order to streamline co-financings and take advantage of each institution’s origination and mobilization capabilities. The agreement works on reciprocity in that the same rules apply regardless of which entity is acting as the lead arranger. Clients thus receive a higher speed of service delivery and lower transaction costs.

Additionally the cooperation is non-exclusive and allows additional entities to join through an Accession Agreement.