On the whole, disbursements for the year 2007 reached $8.1 billion, resulting in an increase in our credit portfolio of $747 million, or 18.6%, as compared to the previous fiscal year.  This significant growth again demonstrates the capacity of Bladex to fulfill both its mission and the expectations of its clients, and to compete successfully across international markets.                  

The increase in the rate of business during the year was the result of a number of important drivers, including a major expansion of our roster of clients (both in the corporate segment and in the banking sector),  the expansion of our presence in the credit markets, and our successful deployment of proprietary asset management activities, thereby demonstrating the abilities of the institution in the managing of market risk.                                              

During the year, a cooperation agreement was established with China Development Bank, one of the world’s largest and most important institutions dedicated to infrastructure financing.  China Development Bank granted Bladex its first financing from a bank in the People’s Republic of China, and the Chairman of the Bladex Board of Directors had the honor of participating as a guest at the annual meeting of the International Advisory Council of China Development Bank in the city of Beijing.