Wednesday, July 19, 2006

IDB helps fund the CAMIF

(Source Article: IDB approves $60 million for CAMIF - IDB news)

Today the IDB approved a $60 million loan for the CAMIF (Central American Mezzanine Infrastructure fund) for infrastructure projects in countries such as Belize, Costa Rica, Guatemala and Panama, among others. The CAMIF will be provided with additional funding from Central American Bank for Economic Integration (CABEI) and other public and private investors.

As a financial instrument combining debt and equity features in the form of an interest-bearing subordinated loan, mezzanine lending in Central America is expected to help develop the region’s capital markets; with this type of instrument, investors can take a portfolio approach to financing infrastructure projects and benefit from risk diversification.

EMP Global, a management firm based in Washington D.C., is overseeing the implementation of the CAMIF. EMP recently appointed James D. Seymour and funds manager – a man with a long history of work in emerging markets. EMP’s investment activities are comprised of various funds with a cumulative capital of $7 billion. (see EMP Global appoints James D. Seymour as Managing Director - Yahoo!)

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