Isaac Btesh, Multibank´s president, said: "This new relationship will allow us to increase lending to customers of small and medium enterprises in Panama as well as individuals, supporting them with financing to fit their needs.”
"With this operation, the IIC supports Multibank to carry out its growth strategy and positioning in Panama, by providing tools to create stable and effective mechanisms channeling credit to small and medium enterprises. This will improve access to adequate sources of credit for SMEs where there are large potential markets, "said Sandra Reyes, Investment Officer of the CII in charge of the operation.
The Inter-American Investment Corporation (IIC) has authorized a credit line to BBVA Panamá with the aim of giving SMEs access to finance.
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.
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.
Xpand Group offers to its clients global support in exports. With its network, the company gives access to small and medium enterprises to new markets such as: North America, Central America & Europe
Operates in El Salvador, Costa Rica, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 2225-0435 - (506) 2524 2800