BBVA unit seeks US$25mn IFC loan for agribusiness SME financing

- Wednesday, December 21, 2011

BBVA unit seeks US$25mn IFC loan for agribusiness SME financing

BBVA Panamá has asked IFC for a long-term credit facility worth up to US$25mn to finance agribusiness SMEs, the multilateral said in a release.

The project will focus on improving access to finance among economically disadvantaged rural populations in the country, and aims to support the whole agricultural supply chain.

As a result of the project, banking penetration in rural areas would be increased, and banks would be able to provide SMEs with more appropriate financing structures and funding with longer maturities, the release said.

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The BBVA unit is based in capital Panama City with 18 branches throughout the country.