The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 10 million senior loan and a USD 8 million trade-finance credit line to Banco Financiera Centroamericana (Ficensa), a Honduran financial institution, for on-lending to small and medium-sized businesses. IFC’s Global Trade Finance Program (GTFP), a USD 5 billion program that provides guarantees that cover payment risk for banks making “trade-related transactions,” will provide the credit line to support “Ficensa’s growing trade finance business, particularly in the agro-commodities sector.” IFC also plans to provide advisory services to improve the bank’s risk management framework. Further information on the transactions is not available.
As of March 31, 2013, Ficensa reported total assets of HNL 7.75 billion (USD 382 million). As of 2012, IFC has 184 member countries and total assets of USD 75.8 billion.
By Charlotte Newman, Research Associate
About International Finance Corporation (IFC)
A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC has 184 member countries and total assets of USD 75.8 billion.
Sources and Additional Resources:
IFC Press Release: “IFC Helps Banco Financiera Centroamericana Expand Lending to SMEs and Support Trade Finance,” http://ifcext.ifc.org/ifcext/Pressroom/IFCPressRoom.nsf/0/1311F1A40FEEE54885257B89004B4BF4
MicroCapital.org story, June 9, 2013, “MICROCAPITAL BRIEF: IFC Loans $70m to SB Sberbank of Kazakhstan to Support Small, Medium-Sized Enterprises (SMEs),” https://www.microcapital.org/microcapital-brief-ifc-loans-70m-to-sb-sberbank-of-kazakhstan-to-support-small-medium-sized-enterprises-smes/
MicroCapital.org story, June 27, 2012, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Open Credit Line Totaling $100m to 400 Small and Medium-Sized Suppliers to Comercial Shops Mexicana (TCM),” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-to-open-credit-line-totaling-100m-to-400-small-and-medium-sized-suppliers-to-comercial-shops-mexicana-tcm/
MicroCapital Universe Profile: International Finance Corporation (IFC)
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: IDB Invest Lending $30m to Atlantic Bank in Support of MSMEs in Belize, with a Focus on Women-owned Firms
- MICROCAPITAL BRIEF: G20, SME Finance Forum Showcase Digital Finance Solutions for MSMEs Via Online Database, Seek Submissions
- MICROCAPITAL BRIEF: Tunisie Leasing and Factoring Borrows $7.5m from BII-Symbiotics Green Bond Program for SMEs in Tunisia
- MICROCAPITAL BRIEF: IDB Invest, Sura Investments Channeling $25m in Loans to SMEs, Mid-market Firms in Colombia
- MICROCAPITAL BRIEF: ADB Issues Local-currency Bond in Mongolia to Finance Invescore Lending to Women-led MSMEs
