IDB, BBVA Panama sign $15 million to boost lending for small business

©image: Banco Interamericano de Desarrollo

The IDB loan will allow BBVAP to significantly expand its lending to SMEs, a strategic sector for economic growth and job creation in Panama. Commercial banks can play a key role in expanding access to financial services for SMEs, leading to more inclusive financial systems in Latin America, noted IDB Financial Markets Division Chief Daniela Carrera-Marquis.

The IDB is the leading source of long-term financing for economic and social development in Latin America and the Caribbean. Its Structured and Corporate Finance Department is responsible for non-sovereign guaranteed operations, which include loans and partial credit guarantees for private sector companies and state-owned enterprises.

Source: Inter-American Development Bank

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