50% of the resources of this financing will be used to support the growth of the Bank’s green loan portfolio.
IDB Invest granted a loan of $ 30 million to Banco Bolivariano CA of Ecuador to increase access to financing for small and medium-sized enterprises (SMEs) in the country and boost their reactivation in the post-pandemic stage, IDB Invest reported through a statement .
The financing seeks to increase access to credit for working capital and investment for SMEs. 50% of the resources of this financing will be used to support the growth of Banco Bolivariano’s green loan portfolio.
IDB Invest allocates $ 36.8 million for the telecommunications market in Ecuador
IDB Invest is a member of the IDB Group (Inter-American Development Bank), a multilateral development entity committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. It finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. It has a portfolio of $ 13.1 billion in assets under management and 385 clients in 25 countries.
These actions are expected to boost sustainable financing and have a positive effect on the environment and economic growth of the country.
The multilateral entity will provide technical advisory services to Banco Bolivariano to deepen and strengthen its strategy towards SMEs and digitization. For this, a segmentation of the portfolio will be carried out, the adjustments to the current financial solutions offered will be evaluated, and a diagnosis of the digital maturity of Banco Bolivariano in its SME segment will be developed.
Grupo De Narváez, owner of Almacenes Tía, announced a capital contribution of $ 14 million for the subsidiary Ta-Ta, in Uruguay
The financial package, with a term of up to eight years, consists of a subordinated loan of $ 30 million, which includes $ 10 million of equity and $ 20 million unencumbered.
This operation is expected to contribute to four United Nations Sustainable Development Goals (SDGs): Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9), Climate action (SDG 13 ) and Partnerships to achieve the goals (SDG 17). (I)
Paul is a talented author and journalist with a passion for entertainment and general news. He currently works as a writer at the 247 News Agency, where he has established herself as a respected voice in the industry.
