IFC provides $25m to Banco Familiar to boost SMEs in Paraguay
The International Finance Corporation is providing a $25 million loan to Banco Familiar S.A.E.C.A. to support the expansion of access to finance for micro, small and medium enterprises, helping create jobs and promoting economic growth in Paraguay.
IFC’s financing consists of an up-to five-year $8 million loan on IFC’s own-account and an up to three-year $17 million B loan syndicated to responsAbility Investments AG and Symbiotics Investment Management SA, two impact investment companies.
This is IFC’s first investment in Banco Familiar, and the first syndicated loan via IFC’s B-lender program in Paraguay. This financing will allow Familiar to increase the volume and average tenor of its product offering to MSMEs, offering wider support to their expansion plans.
