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Add to Preferred SourcesIDB Invest, the private sector arm of the IDB group, will provide the guarantee to a loan that Instituto de Previsión Social (IPS) will disburse to Banco Familiar SAECA in Paraguay. The loan for 26,300 million guaranies will have a 5-year term.
The objective of this operation is to finance investments for the development and growth of small and medium enterprises (SMEs) in the Paraguayan productive sector.
With this operation, IDB Invest seeks to support the use of IPS resources towards the productive sector through a national financial institution. In this way, access to financing for SMEs will be increased with resources in local and long-term currency. It is estimated that more than 2,000 SMEs in the country will benefit from the financing.
As part of the project, IDB Invest will provide technical support to Banco Familiar in the improvement of its social and environmental governance standards. This support will include the implementation of sectorial environmental guidelines, the use of a satellite monitoring tool for client portfolio, and the participation of Banco Familiar in the Sustainable Finance Roundtable. Familiar will be the fourth bank in the country to adopt this satellite monitoring system.
Original source: IDB
Published on 13 December 2017