News Releases

The International Finance Corportaion (IFC) Investment in CIFI

Washington, D.C., July 15, 2008—IFC, a member of the World Bank Group, today announced that it will provide debt financing and acquire an equity stake in Corporación Interamericana para el Financiamiento de Infraestructura (CIFI), a nonbank financial institution that funds small and midsize infrastructure projects in Latin America and the Caribbean. IFC’s investment will boost access to finance for such projects, helping develop infrastructure in the region.

IFC’s investment consists of a $20 million loan and a $9.9 million equity investment. IFC will acquire existing shares from such shareholders as the Inter-American Investment Corporation, which will retain shareholding in CIFI, and the Republic Finance and Merchant Bank. Other institutions, including Caja de Ahorros y Monte de Piedad de Madrid (Caja Madrid), Cordiant Capital, Caixa Geral de Depositos, Intesa Sanpaolo, and BPD Bank, will provide additional loans totaling $48.5 million.

Roldan Trujillo, General Manager and CEO of CIFI, said, “We are pleased to welcome IFC as an investor and shareholder in our institution, alongside other multilateral financial institutions and leading European and regional commercial banks. We believe that IFC’s presence will be important to supporting our growth strategy.”

Atul Mehta, IFC Director for Latin America and the Caribbean, said, “We are delighted to partner with CIFI, which has a complementary focus to that of IFC for the development of infrastructure in Latin America and the Caribbean. CIFI has developed an impressive track record by providing incremental long-term financing for small and medium infrastructure projects.”

Jacques Rogozinski, General Manager of the Inter-American Investment Corporation, said, “We are proud to see how CIFI has outgrown our expectations since we jointly created it in 2001 with Caja Madrid. We feel our mission has been partially accomplished and we are confident that CIFI, with the strong support from the IFC, will achieve new and bigger milestones. IIC and IFC share the same commitment to the development of smaller private companies in the region and we look forward to developing a strong relationship with IFC to meet this objective.”

CIFI IS APPOINTED LEAD ARRANGER AND FINANCIAL ADVISOR TO CONVIAL CALLAO S.A. FOR THE FINANCING OF PHASE B AND C OF THE CONVIAL CALLAO TOLL ROAD IN LIMA, PERU

Washington, DC—CIFI, a leading Latin America infrastructure financing firm, has announced it has been appointed as the financial advisor and arranger by Convial Callao S.A. of Peru, to structure a US$22 million long-term loan debt package which will allow the Company to complete Phases “B” and “C” of the concessioned toll-road from Lima to the Jorge Chavez International Airport (Lima). The project is estimated to cost about US$40 million covering Phases “A” (completed), “B”, and “C” (“the Project”).

CIFI APPROVES $8 MILLION LOAN TO GUAYAQUIL’S AIRPORT CONCESSIONAIRE -TAGSA

Washington, DC—CIFI, a leading Latin America infrastructure financing firm, has announced it approved an US$8 million loan as part of a US$40 million refinancing package also arranged by CIFI. Funds will be used to realign Tagsa’s balance sheet and create a more appropriate funding structure, and to finance the Company’s 2007 and 2008 capital expenditure program. The US$40 million being raised by CIFI will be complemented with shareholders’ subordinated long term loans and a parallel senior loan from a local bank.

About TAGSA Terminal Aeroportuaria de Guayaquil S.A. (“Tagsa”), an Ecuadorian company, was established by Corporación América S.A. (Aeropuertos Argentina 2000) and Dell Air Services (Deller Group of Quito) to act as the concessionaire of the Guayaquil Airport, under a fifteen and a half year concession to build a new international passenger terminal (amongst other works) and operate the airport of Guayaquil, Ecuador. Tagsa began operating the airport in August 2004. Initial investments and operations through December 31, 2006 were completed successfully and the new terminal was inaugurated in August 2006.

EQUATOR PRINCIPLES

Arlington, VA, April 06, 2007 – Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), a leading financial institution providing structured financing and advisory services for infrastructure projects in Latin America and the Caribbean, has announced its adoption of the Equator Principles. "CIFI embraces the concepts that underline the Equator Principles", said Roldan Trujillo, CIFI’s CEO. "We are delighted to join with so many outstanding financial institutions in formally adopting these principles. Through its adoption of these principles, CIFI ratifies its commitment to matters of corporate responsibility, consistent with its continuous quest to align itself with the needs of its customers, shareholders, employees and of the societies in which it pursues its business”. The Equator Principles is a set of guidelines developed by private financial institutions for managing environmental and social issues related to project financing. The Equator Principles are based on the environmental and social policies and safeguards of the International Finance Corporation (IFC).

CIFI COMMITS ANOTHER US$5 MILLION FACILITY TOWARDS BELIZE INFRASTRUCTURE DEVELOPMENT

Arlington, VA—CIFI, a leading Latin America and Caribbean infrastructure financing and advisory firm, has announced it committed a US$5 million credit facility to Belize Natural Energy Joint Venture (BNE). Funds will finance capital expenditures at BNE, which recently discovered an oil field of 25 to 50 million barrels of potentially recoverable sweet crude. It is the first major oil discovery in the Central American country.

“BNE succeeded due to the determination of its management. CIFI is pleased to partner with such a committed group of individuals,” said Roldan Trujillo, CIFI’s CEO. This announcement comes on the heels of CIFI arranging a $53 million credit facility for a Belizean cogeneration energy plant.

About Belize Natural Energy Joint Venture Belize Natural Energy is a joint venture between CHx Capital, a US-based investment company and International Natural Energy, a group of primarily Irish-based private investors. Its primary activity is the exploration and development of oil and gas in Belize.

LATIN AMERICA- SYNDICATED LOAN TO FINANCE INFRASTRUCTURE PROJECTS

June 2006
Client: Corporación Interamericana para el Financiamiento de Infraestructura S.A. (CIFI)
Sector: Financial sector – non-banking financial institution
FMO-financing: FMO “A” loan of USD 16 million as part of a USD 100 million syndication
Partner(s): Caja Madrid, DEG, CABEI and Finnfund

FMO provided USD 16 million as part of a USD 100 million syndicated term loan for Corporación Interamericana para el Financiamiento de Infraestructura S.A. (CIFI), for on-lending to private sector infrastructure projects in Latin America and the Caribbean. The syndication was arranged by FMO and Caja Madrid. CIFI is a regulated financial institution incorporated in Costa Rica with operating headquarter in Washington, DC, that provides long term debt financing and advisory services to private sector companies for projects in power, gas, transportation and associated logistics, water & sanitation, telecommunications, infrastructure related services, tourism and social infrastructure. CIFI’s shareholders consist of European Banks and Funds, Latin American and Caribbean commercial banks, and regional Multilateral Financial Institutions.

This syndicated term loan will enable CIFI to expand its infrastructure loan portfolio and provide additional funding to the infrastructure sector in the region, consistent with FMO’s strategy.

IDB APPROVES $50 MILLION TO SUPPORT SMALL AND MEDIUM-SIZE INFRASTRUCTURE INVESTMENTS IN LATIN AMERICA

October 20, 2004

Credit Facility for Corporación Interamericana para el Financiamiento de Infraestructura

The Inter-American Development Bank today announced the approval of $50 million in financing for Corporación Interamericana para el Financiamiento de Infraestructura,S.A. (CIFI), to support medium- and long-term debt financing for private sector infrastructure projects.

The Bank’s support for CIFI, a specialized financial corporation established in 2001 under the laws of Costa Rica, will provide leverage to the equity contributed by the institution’s shareholders, which includes three regional multilateral financial institutions as well as seven international commercial banks operating in Latin America and the Caribbean. IDB financing consists of a loan from ordinary capital of up to $25 million (A-loan) and a syndicated (B-loan) of around $25 million, which will be comprised of resources from financial institutions through the subscription of participation agreements with the IDB.

The proceeds of the credit facility will be used by CIFI to on-lend to private sector projects in Latin America and the Caribbean, with a particular focus in the smaller economies of the region. CIFI specializes in financing infrastructure projects in energy, gas, transportation and logistics, water and sanitation, telecommunications, and infrastructure related services. The financing will contribute to the provision of medium and long-term financing for small and medium-sized private sector infrastructure projects in Latin America and the Caribbean, and it is designed to mobilize international resources for tenors that would otherwise not be available. An additional goal of the IDB is to attract potential future lenders and shareholders to CIFI, supporting its institutional development.

ADVISORY SERVICES

ECUADOR

FAVORITA FRUIT COMPANY, Ltd

CIFI has been mandated as Lead Arranger and Advisor by Favorita Fruit Co. Ltd of Ecuador, to raise a US$55 million in a Senior Debt Facility. The loan proceeds will be used to finance new infrastructure investments, including a warehouse investment in its maritime port facility, and a small hydro facility for the Group’s power requirements.

Favorita, a member of one of Ecuador’s blue-chip Groups, has a 4.5% market share of the worldwide Bananas market, and also has businesses in the plastics, cardboard boxes, aerial fumigation, and fertilizer importation and distribution industries. The company operates a private port terminal in Guayaquil that contributes significantly to Ecuador’s export related activities, and also creates new jobs while allowing for premium port services and a significant improvement in Ecuador's competitive position in the world.

ARGENTINA

FLUVIOMAR HOLDINGS LIMITED

CIFI was hired as Lead Arranger for a US$22 million senior debt facility for FLUVIOMAR, an Argentine company, that is the second largest barge operator, on the Parana-Paraguay inland waterway system in South America. The company operates a fleet of bulk cargo transport barges and related facilities, accounting for an estimated 28% of total barge capacity on the Hidrovia.

The company is owned by local investors together with Darby Overseas Investments, Ltd., an emerging markets investment firm and Crosstown Financial Company 4, LLC, a subsidiary of the private investment division of Cargill, Inc.

PERU

GRUPO DE SUPERMERCADOS WONG, S.A.

CIFI has been mandated as Lead Arranger by Grupo de Supermercados Wong (Wong) to raise up to US$21 million in term financing for the company’s expansion program. Wong is the largest (by sales) supermarket chain in Peru, accounting for approximately 63% of total sales in the supermarket sector. The Loan Facility will be applied by Wong to the construction of new stores, the principal source of growth in sales for a grocery store chain.

PERU

FERROVIAS CENTRAL ANDINA, S.A.

CIFI was hired as exclusive financial advisor by the Ferrovias Central Andina, S.A.(the Concessionaire) and Ferrocarril Central Andino, S.A. (the Operator) corporations to structure and arrange US$14 million in long-term debt financing to carry out their projected capital investment program, while strengthening the quality of their financial structure via the partial refinancing of their existing short and medium term debt. DEG of Germany and CIFI participated in the financing package.

ECUADOR

ECOELECTRIC,S.A

CIFI was hired by Ecuadorian firm Ecoelectric, whose sponsors include the Noboa Group, as Lead Arranger and Structurer for a bagasse cogeneration project. CIFI performed a technical and environmental Due Diligence, structured the financing and led the US$21 million syndication for the renewable energy project. Lenders include CAF, CIFI and DEG of Germany. The total project cost was US$31MM.

BELIZE

BELIZE CO-GENERATION ENERGY LIMITED (BELCOGEN).

CIFI was hired by Belcogen to structure and arrange senior and subordinated debt facilities for a US$45 million bagasse cogeneration project. CIFI performed a technical, financial and environmental Due Diligence of BELCOGEN, for a renewable energy project in Belize to supply the parent company’s sugar mill and sell to the national grid. CIFI prepared Information Memorandum, advised on the financial structure of the facility and acted as lead arranger of the US$34 million loan syndicate.

PERU

CEMENTOS LIMA

CIFI served as financial advisor to Cementos Lima S.A. of Perú to evaluate the feasibility of developing an irrigated large-scale farming operation. CIFI developed a detailed business assessment and marketing study to evaluate the economic viability of the proposed project, and completed profitability prospects with cash flow models for a range of potential crops.

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