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Mr. Carlos Slim address on the creation of Fundación Inbursa.
September 7th, 2009.
Good afternoon to all of you,
Her Highness, Infanta Doña Cristina,
Social Area Director of Fundación La Caixa.
Don Isidro Fainé,
Administration Board President of Fundación La Caixa.
Don Jaime Lanaspa,
General Director of Fundación La Caixa.
Mr. Marco Antonio Slim Domit,
President of Grupo Financiero Inbursa.
I am pleased in welcoming you to the creation of Fundación Inbursa. In less than a year, we and La Caixa of Barcelona have jointly created a great society which is a big stimulus for Grupo Financiero Inbursa, well beyond capital increasing, managerial synergy and experience interchange during the last few months, specially for Inbursa.
This is an alliance which have allowed us to reach strong capitalization and intense lending and financial activity during 2008 and 2009. In spite that the current global financial crisis has restricted the financial flux, Inbursa has kept opened its credit and financial offering for big projects, big firms and big commercial credits, and also for small and medium-size enterprises. About 20,000 small and medium-size firms are already getting financial capital from this offering, and between 800 and 1,000 new ones get incorporated to these credit programs.
During the last few months, we have made a society with Muhammad Yunus’s Grameen Bank to lending microcredits for the poorest with rather competitive rate interest. This lending activity has just began and we expect to finance about 90,000 or 100,000 small enterprises with microcredits. I stress the importance of these financial activities for Inbursa.
Yet, beyond all of this commercial activity, I underline the importance Inbursa gives to our society with La Caixa, beyond its structure and organization. I underline the importance we give to our alliance with La Caixa’s persons, to our community of ideas and values, specially to the motivation of the present gathering, the non-entrepreneurial and support activities for the society in which we work and live. Such is the reason for the creation of Fundación Inbursa with an endowment amounting one thousand million pesos to support health, education, culture, and mainly human capital formation. These activities are part of Fundación Inbursa and La Caixa commitment, not only in Spain, but in many other countries.
Finally, I would like to thank your presence, specially to our partners who have procured these contributions to support the common programs for our countrymen.
Thanks to all of you.
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