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Letter of Transmittal
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29 January 2002
Chairman of the Board of Governors
Inter-American Investment Corporation
Washington, D.C.
Mr. Chairman:
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Pursuant to the provisions of Article IV, Section 9(a) of the Agreement Establishing
the Inter-American Investment Corporation, I transmit to you the Annual Report
of the Corporation for 2001 and the audited financial statements, including
the balance sheet, income and retained earnings statement, and cash flow statement
for the fiscal year ending December 31, 2001.
Given the new international environment and its upsetting effect on the economy
in the region, the institutions that make up the IDB Group, both individually
and as a group, have reaffirmed their commitment to promoting sustainable economic
and social development in Latin America and the Caribbean. The purpose of the
Inter-American Investment Corporation is to assist small and medium-size enterprises
in the region by helping to meet the pressing need for financing in the form
of credit and equity investment. These enterprises continue to be a major engine
for development with equity, since they create jobs, generate foreign exchange
income, and enhance economic and social integration. Given the critical impact
of financing on the pace of economic growth, the Corporation is strategically
placed to provide support for small and medium-size enterprises, help develop
opportunities for financial intermediation, and promote the development of local
capital markets.
Yours sincerely,
Enrique V. Iglesias
Chairman
Board of Executive Directors
Inter-American Investment Corporation
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