Nicaragua: $ 45 Million in Production Loans
Banco Produzcamos accumulated a $ 45 million loan portfolio during its first 5 months of operation.
Monday, November 29, 2010
According to a report from the Superintendence of Banks, the banking institution, created to fund production activities, had $ 78 million in patrimony by late October.
The Central American Bank for Economic Integration (CABEI) and Banco ProCredit Honduras have signed an agreement to open a credit line to finance micro-companies and SMEs.
The loan is being negotiated with BNDES, the National Development Bank of Brazil, and would be used in development projects.
The start of 2012 will see the launch of the new Development Banking System, which has $200 million in credit to support micro, small and medium enterprises.
Six financial institutions have been authorized to provide loans under the conditions imposed by the Development Bank, with interest rates of 3% in dollars and in line with the passive base rate in colones.
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