Guatemala’s sixth largest bank, Bantrab (Spanish acronym for Worker’s Bank), landed a credit line from the German Development Bank (DEG).
Mauricio Álvarez, Bantrab’s head of strategic planning, explained that the funds will be loaned to small and medium enterprises from rural and urban areas.
The bank has granted loans between $131 and $653 for small enterprises and up to $26,132 for medium sized ones.
DEG, the German Investment Corporation granted local bank "Banco de Los Trabajadores" (Bantrab) a credit line to lend to Small and Medium Enterprises.
Mauricio Álvarez, strategic planner at Bantrab, explained they had also negotiated credit lines with Dresdner Bank, Wells Fargo and the Central American Bank for Economic Integration.
"These funds are earmarked for productive loans for individuals and small and medium enterprises.