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IFC
The capital will be used to develop a model of "Bancassurance", which will market the insurance products through the network of branches owned by Banco G&T Continental, a sister company of the insurer.
As reported by the IFC, the level of cooperation between the two entities has been limited so far, but it is believed that by distributing insurance products through the bank, substantial synergies can be achieved, as well as higher returns on investment and a greater penetration in the Guatemalan market.
Source: International Finance Corporation
More on this topic
December 2010
The IDB approved a $ 12.5 million loan for the Comprehensive Care Program for Nicaraguan Children (PAININ).
The project aims to contribute to the development of children less than six years old in conditions of extreme poverty in rural Nicaragua and improve their opportunities, including timely entry into the educational system.
January 2010
The loan to the Guatemalan bank aims to finance import and export operations.
Within the Trade Finance Facilitation Program (TFFP), the Inter-American Development Bank (IDB) granted Guatemalan Bank G&T Continental $70 million.
Flavio Montenegro, G&T CEO, remarked: "This transaction strengthens our trade operations and supports the economy of Guatemala, as it increases the funding available for our nation's industries".
July 2011
International financial entities will increase the amount of finance available for private businesses and projects in Latin America
The International Finance Corporation (IFC), the World Bank, the Inter-American Development Bank (IDB) and the American Investment Corporation (IIC) have announced their willingness to increase resources for the financing of "eco-friendly projects, infrastructure, agribusiness and even educational projects," developed by private enterprise.
May 2008
The Irish-owned Caribbean and Central American mobile telecommunications group Digicel has approached the World Bank, for a loan of between USD50 million and USD75 million to help fund its estimated USD400 million investment to launch commercial services in Honduras.
According to a report on the IFC’s website, as quoted by BNamericas, the World Bank body has applauded Digicel’s credit history and welcomed its plans for Honduras, a country where ‘private financing from local or from international commercial banks without multilateral support is scarce’. The IFC statement went on to say that ‘the entry of an experienced player such as Digicel into the market will encourage the existing mobile operators to invest further in their networks, thereby increasing availability and stimulating improved service standards, the development of value added services, and lower tariffs for consumers.’
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