Microfinancers in Panama

The demand for loans for micro and small enterprises was around $900 million over the past two years and went largely unfulfilled.

Monday, May 7, 2012

Data from the Panamanian Network of Microfinancers (Redpamif in Spanish) show that specialized microfinance institutions granted in that period about $150 million in loans to micro and small enterprises.

Another part of the demand, some $120 million, was attended to by other financial market participants through consumer loans.

"A small percentage of the demand is being taken care of at a banking center comprising of 93 banks. Of these, only three specialize in micro-finance and the other five who have a more diverse portfolio have programs which address this sector. There are also two financial companies, four cooperatives and as many NGOs which do the same", reported Prensa.com.

Micro and small enterprises account for about 70% of the country's workforce, however, about 65% work in the informal sector, which makes it more difficult for them access to credit.

More on this topic

$32 million for Guatemalan MSMEs

June 2011

The World Bank has approved a loan to finance Micro, Small and Medium Enterprises (MSMEs).

The Economy Minister Luis Velasquez said it has already held meetings with various factions of the Legislature to promote the approval of the loan.

"We expect it to be dealt with next week in the Economic Cabinet and then to be sent to the Monetary Board to receive their ruling", said the representative to Sigloxxi.com.gt.

Panama: MSMEs receive credit of $1.7 million

May 2011

700 micro businesses completed procedures for obtaining credit from financial institutions.

As part of the conference organized by the National Authority for the micro, small and medium enterprises, more than 800 thousand employers made contact with financial institutions and banks, with whom they discussed the possibility of obtaining loans for their businesses.

$ 2 Million in Credits for Costa Rican SMEs

February 2011

The Norwegian Investment Fund for Developing Countries (Norfund) will invest $ 2 million in financial institution Desyfin.

The resources, which are for financing small and medium enterprises, will be dispersed through various programs and services,"... such as discounted invoices, working capital, leasing for the acquisition of production, medical and technology equipment and financing of new environmentally friendly projects, among others," reported Elfinancierocr.com.

$7 Million for Costa Rican SMEs

September 2010

CABEI and the country's largest finance company, Desyfin, have signed an agreement that will make $7 million available to small and medium sized enterprises (SMEs).

The Central American Bank for Economic Integration (CABEI) loan is part of the 'banca de segundo piso' ("second tier banking") program through which CABEI seeks to give SMEs better access to credit, according to Leticia Vindas writing for the El Financiero web portal.

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