IFC is the new strategic partner of Banco G&T of Guatemala

The International Finance Corporation signed an agreement yesterday that makes it a strategic partner of Banco G&T Continental, where it will invest $70 million.

Wednesday, July 30, 2008

This is the most important direct investment done by the IFC in Central America, and the first of its kind in Guatemala, stated Flavio Montenegro, CEO of Banco G&T Continental. The investment amounts to 9% of the entity's equity, and should be paid out in less than ten days.
With this capital increase, the bank plans to expand its lending programs to small and medium enterprises.

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B2Gold purchases 100% of two Nicaraguan operations

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G&T Continental Bank of Guatemala will issue preferred shares

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On Tuesday Guatemala's Monetary Committee was advised of the request of G&T Continental Bank to issue a series of preferred shares for 70 million dollars at a fixed interest rate.

G&T is the second financial group within the past year to use this type of instrument to increase its paid capital. Last September the Banco de los Trabajadores (Workers' Bank) issued 20 million dollars' worth of preferred shares.

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