The German group DEG has become a shareholder of Multibank investing $30 million, equivalent to a 7% stake in the company.
Prensa.com reports: "The German company will incorporate a representative to the board of Multi Financial Group (MLG, a holding company belonging to Multibank), which finds in this partner support for its expansion strategy."
IFC granted a $20 million loan to Banco Improsa, and auhtorized its incorporation to the Global Trade Finance Program.
IFC, a member of the World Bank Group, will provide a $20 million long-term financing to Banco Improsa in Costa Rica, to expand access to finance for local small and medium enterprises and $5 million in guarantees to expand bank’s capacity to provide trade finance.
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.
Multibank’s inclusion in the IFC program will allow it to expand its trade finance transactions within an extensive network of countries and banks. IFC’s Global Trade Finance Program promotes trade with emerging markets worldwide in a number of industries. IFC provides guarantees that help banks mitigate risks in emerging markets, allowing recipients to expand their trade finance transactions.
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
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