IDB to loan US40mn to improve financial system strength, access

- Wednesday, November 30, 2011

IDB to loan US40mn to improve financial system strength, access

The IDB has approved a US$40mn loan to strengthen the financial system and improve access to financial services in Honduras, according to a press release from the development bank.

The measures aim to improve the regulatory framework and supervision in the country, as well as enhance the sustainability of reforms by improving the organizational structure of the national commissions for banking and insurance.

The loan is also expected to improve access to financing for lower income individuals and SMEs.

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Honduras will receive another IDB loan of US$40mn to strengthen its pension system, and US$100mn for natural disaster preparation, the release said.