(April 20 – 11:55 ET) – Scotiabank and the Inter-American Agency for Co-Operation and Development (IACD) have signed a Memorandum of Understanding for a US$100 million line of credit.

This fund will support development in the Caribbean and Latin America, with a particular focus on financing of capital goods for education, information technology and social services.

“Scotiabank is proud to operate in almost 30 countries in the Caribbean and Latin America” said Rick Waugh, Scotiabank’s vice chairman and executive vice president, International Banking.

“We welcome this opportunity to put our expertise in trade and project financing to work for the IACD. In this way we are able to contribute to the local communities, particularly in the areas of education, technology and social services.”

The IACD was established by the General Assembly of the Organization of the American States in November 1999 to promote technical cooperation and training programs necessary to accelerate economic development in the region.

Scotiabank has more than 2,000 branches and offices in more than fifty countries and a strong presence throughout the Caribbean and Latin America.
-IE Staff