WASHINGTON, D.C., Dec. 2—Mr. Jannik Lindbaek,
Executive Vice President of the International Finance Corporation (IFC),
will lead an IFC delegation to Central America from 2 to 6 December 1996.
The IFC delegation will consult with government and industry leaders on
initiatives to encourage private sector development and discuss IFC’s
ongoing activities in the region. This is Mr. Lindbaek’s first official
visit to Central America.
IFC is a member of the World Bank Group and is the largest multilateral
source of equity and loan financing for private sector projects in developing
countries. Since 1992 the Corporation has approved investments totalling
US$375.3 million in Central America’s private sector and has a strong
investment program foreseen for the next three years. In the same period,
in Costa Rica IFC has approved investments worth US$36.6 million, in Honduras
US$48.2 million, in El Salvador US$72.5 million, and in Guatemala US$153
million. IFC has also assisted the governments of El Salvador and Costa
Rica in reformulating certain aspects of their foreign investment regulations.
IFC’s investment and advisory work in Central America is geared to support
the region’s reconstruction efforts and economic resurgence. In particular,
IFC activities emphasize general manufacturing, infrastructure, agribusiness
and the capital markets sectors. In addition, El Salvador features as one
of the countries selected for the “Extending IFC’s Reach” pilot project,
whereby IFC will establish an expanded field presence and seek to assist
the local private sector by developing and financing smaller projects in
During his visit to the region, Mr. Lindbaek will meet with senior government
officials and business and financial sector representatives, including
exporters’ associations. He will also visit the sites of various projects
in the region supported by IFC investments. In addition, he will meet with
the staff of ASECA (Asesoría Empresarial Centroaméricana), a regional project
development facility established with the help of IFC and headquartered
in Costa Rica.
Accompanying Mr. Lindbaek will be Mr. Helmut Paul, Director of IFC’s Latin
America Department, Mr. Hugh Henry May, IFC’s Manager for Central America
and Caribbean, and Mr. Julio Lastres, Manager, Capital Markets, Latin America
and Caribbean. The World Bank/IFC Executive Director, Mr. Enzo del Bufalo,
and Alternate Executive Director, Mr. Roberto Jimenez-Ortiz, will also
accompany Mr. Lindbaek on his visit to Central America.