May 24 , 2006

CIB RECEIVES SIGNIFICANT FUNDING FOR ON LENDING

The European Investment Bank Facility

The European Investment Bank (EIB) has granted Clico Investment Bank Limited (CIB) a 20.0 million Eurodollar loan for the financing of projects by small to medium sized private and public Caribbean enterprises in industry, agro-industry, tourism, transport, revenue earning infrastructure and services.

The loan is being made available by the EIB under the Partnership Agreement between the ACP states and the European community, The Cotonou Agreement.

This Agreement will not only provide CIB with a pool of relatively low priced funds for on lending, but will also grant CIB further international recognition.

The Bladex Facility
CIB has also secured a credit line of US$15.0 million from Banco Latinoamericano de Exportaciones (Bladex) for short term trade transactions. Bladex has communicated its intention to work together with CIB on individual projects in Trinidad and Tobago as well as in the Caribbean.

CIB can now expand its lending ability to various businesses and government institutions involved in foreign trade. Additionally, this facility may enable CIB to extend its reach into the Central and South American markets.

Bladex was formed in May 1975, by Dr. Nicolás Ardito Barleta, Minister of Planning and Economics and President of the Panama's Banking Commission. Barleta created a multinational organization to finance the Region's exports at the Twentieth Annual Meeting of Latin American Central Bank Governors.

The Bank was organized in 1977 constituted in 1978 as a corporation pursuant to the laws of the Republic of Panama, and initiated official operations on January 2, 1979 with its corporate headquarters located in Panama.