Argentina
News

Argentina's Galicia gets US$130mn for SME, energy sectors

Bnamericas Published: Thursday, June 02, 2016
Argentina's Galicia gets US$130mn for SME, energy sectors

The IFC, a member of the World Bank Group, approved a US$130mn loan for Argentina's Banco Galicia to support SME lending and develop a new program to finance sustainable energy projects in the country.

Part of Grupo Financiero Galicia, Banco Galicia has 70,000 SME clients and it is a leading source of financing for this segment in Argentina. IFC said in a release.

The Galicia financing package consists of a five-year tranche for SMEs, mainly in the agribusiness sector, and a seven-year tranche to support sustainable energy projects.

"Argentina is undergoing a process of extensive reform, with substantial investment expected over the next few years," said IFC.

IFC also said it committed over US$1.6bn in financing to private sector projects over the past 12 months, becoming the largest international source of financing for Argentina in this period.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

  • Project: Rajo Inca
  • Current stage: Blurred
  • Updated: 1 day ago

Other companies

Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.

  • Company: General Water S.A.  (General Water)
  • General Water is a private Brazilian company aimed at the supply, treatment and reuse of water resources. General Water is specialized in the development, operation and maintena...
  • Company: Omdia
  • The English company Ovum Ltd., part of the Business Intelligence Division of Informa Group, is a consulting agency which helps its clients to evaluate opportunities, to measure ...
  • Company: Ritz Instrument Transformers Inc.  (RITZ USA)
  • RITZ is one of the world´s leading specialists for Instrument Transformers: Low and medium voltage insulated with epoxy resin, high voltage transformers insulated with oil/paper...
  • Company: One Communications Ltd.  (One Communications)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...