The transaction will help the company expand its product offerings to small and medium enterprises (SMEs) and is designed to support the economic recovery from the COVID-19 health crisis.
Family remittances received by El Salvador totaled $1,600.7 million in the period from January to April 2020, lower by $173.3 million compared to the same period of the previous year, with a reduction equivalent to -9.8 percent.
The loan will boost the bank’s ability to increase its lending for low-income housing, women-owned small and medium enterprises, and sustainable agribusiness projects in the country.
Queen Letizia joined the Foundation on a videoconference to discuss how COVID-19 is impacting Latin American micro-enterprises and to learn about the measures put in place in the five countries BBVAMF operates.
The Central Bank of Argentina (BCRA) is testing a new blockchain-powered clearing system that could be used by some of the country's largest financial institutions.
IFC, a member of the World Bank Group, provided Banco General, S.A., a loan of $150 million for mortgage lending for low and middle-income families in Panama, at the end of 2019.
BBVA Microfinance Foundation’s Institutions Establish Measures for the 2.2 Million Entrepreneurs It Serves During the Health Crisis
Aligned with its social purpose and in light of COVID-19’s progress in Latin America, BBVA Microfinance Foundation’s six institutions in five countries in the region have adopted urgent and necessary measures to help its 2.2 million clients cope with this situation.
Mexican fintech startup Credijusto has raised $100 million in debt from Credit Suisse Group, a move that will help it extend more loans to small and mid-sized businesses as banks gauge how to respond to the impact of coronavirus.