Member News: IDB Invest Increases Credit to SMEs in Panama
SME Finance mMember, IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group signed a loan of up to $29.25 million with Metrobank of Panama to increase financing to SMEs.
The loan will improve the access of Panamanian SMEs to financial products and services. Furthermore, IDB Invest will facilitate a training focused on export services through group workshops for Metrobank to encourage exports for Panamanian SMEs and contribute to the economic integration of Latin America and the Caribbean.
According to the article, the financial package consists of a $20 million loan for a three-year term and the mobilization of $9.25 million.