$20 Million for Small and Medium Sized Panamanian Enterprises
The Inter-American Investment Corporation (IIC) has authorized a credit line to BBVA Panamá with the aim of giving SMEs access to finance.
Wednesday, August 4, 2010
The credit line seeks to make funds available to small and medium sized Panamanian companies, to help cover their operating costs and includes finance for working capital and revolving credit lines. This is the IIC’s second operation with BBVA Panamá.
The $490 million transaction will be closed after being approved by the respective authorities, with a probable distribution of extraordinary dividends of $140 million.
BBVAP and IDB signed documents for a $15 million loan to provide BBVAP with long-term funding to support its lending to small and medium-sized enterprises.
The Inter-American Development Bank approved a $15 million loan to provide Banco Bilbao Vizcaya Argentaria (Panama), S.A. (BBVAP) with long-term funding to support its lending to small and medium-sized enterprises.
The IIC financing will create effective mechanisms to channel credits to SMEs in Panama.
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