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Both entities are subsidiaries of La Hipotecaria (Holding), Inc.
Funds from the loan will be used to stimulate the growth of the mortgage loan portfolio of these companies.
"With this medium-term loan, the Inter-American Investment Corporation (IIC) will support the financing of residential mortgages in El Salvador and Panama, focusing resources on end users of middle and lower middle income in order to help improve access to finance of these large segments of customers," said Marvin Guevara, Investment Officer of the CII.
Source: Inter-American Investment Corporation
More on this topic
January 2011
The Housing Institute has a $ 2 million fund for housing loans intended for the middle class.
"The proposal is part of a pilot program which could be extended to up to$ 11.74 million,” according to the article in El Financiero.
The loans are targeted to households with incomes over $ 500 which can borrow up to $ 62 thousand and households with incomes above the $ 2 thousand for loans up to $ 88 thousand.
January 2012
La Hipotecaria landed IDB financing for mortgage loans in El Salvador, Panama and Colombia.
$20 million in loans will help boost loans for low-and middle-income housing to reduce the gap in the housing market.
La Hipotecaria is to get a funding package of $20 million from the Inter-American Development Bank (IDB) to promote mortgage lending for low and middle income classes in El Salvador, Panama and Colombia.
July 2010
The Inter-American Investment Corporation (IIC) signed a loan agreement for up to US$4 million with Café Britt Costa Rica S.A., a subsidiary of Grupo Britt, N.V.
This IIC loan will provide Café Britt S.A. with appropriate permanent working capital financing that will help it plan its operating funding requirements at the regional level.
August 2008
The banking system has a mortgage portfolio that surpassed $2 billion, according to a study presented by the Multi-sector Investment Bank.
The Social Housing Fund (FSV) mortgage portfolio, valued at $878.1 million in July of this year and which corresponds to 121,075 credits for new and used houses, should also be added to the total figure.
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