A press release from the OFID reads:
The OPEC Fund for International Development (OFID) and the Banco Financiera Comercial SA Honduras (Banco Ficohsa) yesterday signed an agreement for a line of $10 million credit to support continued access to long-term financing by Small and Medium Companies (SMEs) in Honduras.
The OFID Credit Line will also support the national plan of the Government of Honduras to promote renewable energy development through the funding of various renewable energy projects in rural areas around the country.
In Honduras, SMEs contribute 25% of the GDP. However, commercial banks spend just 1% of their total portfolio of loans to this sector.
Ficohsa Bank will strengthen its services to medium-sized companies, providing a wide range of credit and financial products and services.
At the time of the signing of the credit line, Mr. Al-Herbish, said that "through the proposed facility, the OFID aims to support the growth of Banco Ficohsa’s portfolio to ensure that SMEs have access to continued funding of new and existing businesses and promoting new renewable energy projects ".
Source: CentralAmericaData.COM
More on this topic
December 2010
The IDB approved a loan to Ficohsa Bank in order to fund renewable energy projects.
Corporations and companies will have access to the line of credit to finance renewable energy ventures.
Javier Atala, senior executive vice president and general manager Ficohsa Bank, told La Tribuna: "The green line will contribute to the financing of renewable energy projects, transformation of existing production units to more energy efficient schemes, which continue to innovate products and services for our customers according to our institutional values.”
October 2011
The IFC ratified agreements to support the expansion and capitalization of Ficohsa Bank.
A press release from the International Finance Corporation (IFC) reads:
The IFC Capitalization Fund has signed agreements that will support expansion plans and the capitalization of Banco Financiera Comercial Honduras, SA, investing $70 million in capital resources.
October 2008
The Netherlands Development Finance Company (FMO) and the German Investment and Development Company (DEG) granted a line of credit to Ficohsa Bank for $45 million, official sources reported.
The funds from this credit will be used by Ficohsa Bank to strengthen its strategy of diversifying its loan portfolio for the Housing, Agro-Industrial, Industrial and Small and Medium Businesses sectors, they explained.
April 2010
Bank BAC will offer funding for Small and Medium Enterprises interested in developing energy efficiency projects.
The banking institution signed a collaboration agreement with the Inter-American Investment Corporation (IIC). Under it, they will offer funding and technical assistance to small and medium enterprises to develop energy efficiency projects.
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