The money will be channeled through three local banks: Ficohsa, Atlantida and Banco de Occidente, covering 36% of the $ 44 million credit loan the municipalities have with these banks.
This is the first sub-national credit the International Finance Corporation (IFC) does in Honduras and serves as a mechanism for credit sharing, allowing local banks to overcome limits of funds they can lend, providing better conditions for long-term investments.
IFC, a member of the World Bank Group, will provide a loan to Banco Delta for lending to micro and small entrepreneurs in Panama.
From a press release by the International Finance Corporation (IFC):
IFC, a member of the World Bank Group, has awarded to Banco Delta SA the largest microfinance institution in Panama, a five-year loan for $6 million to support micro and small entrepreneurs who have little access to formal financial services. This is IFC's first investment in the microfinance sector of Panama, one of the most underdeveloped countries in Central America.
The commerce program of the IFC supports Atlántida Bank in the expansion of its access to a world trade network.
The International Finance Corporation (IFC), a member of the World Bank Group, announced today that Atlántida Bank of Honduras has joined the Global Program for trade financing of the IFC, which will help the bank to access a world trade network and strengthen its support to SMEs that are dedicated to the import or export of goods in the country.
Multibank joins IFC Program to expand trade financing for panamanian businesses.
IFC, a member of the World Bank Group, announced that Multibank today became the first issuing bank in Panama to join IFC’s Global Trade Finance Program to improve access to finance for local importers and exporters and entry to new markets.
IFC announced that the Honduran Bank has joined its global financing for foreign trade program.
Its participation in the program will allow Banpaís to expand its financial transactions to foreign trade with an extensive global network of banks and improve Honduran companies’ access to credit lines for trade.
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