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China Co-Financing Fund for Latin America and the Caribbean provides $12.5 million loan to Banco Cuscatlán for on-lending to SMEs (Linked to Record ID#86526)
| Funder | People's Bank of China (PBC) |
|---|---|
| Recipient Organization | Banco Cuscatlán |
| Country | El Salvador |
| Start Date | Jun 22, 2020 |
| End Date | Mar 27, 2033 |
| Duration | 4,661 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73919 |
Grant Description
China Co-Financing Fund for Latin America and the Caribbean provides $12.5 million loan to Banco Cuscatlán for on-lending to SMEs On June 22, 2020, IDB Invest, a member of the Inter-American Development Bank (IDB) Group, loaned USD 12.5 million to Banco Cuscatlán of El Salvador, drawn from the China Co-Financing Fund for Latin America and the Caribbean.
IDB Invest loaned Banco Cuscatlan USD 25 million from their own resources, for a total of 37.5 million USD. IDB also provided USD 470,000 in technical assistance for the digitalization of SME's owned by women.
The financing is intended for on-lending to Banco Cuscatlán's small and medium-sized enterprise (SME) clients, in order to provide them stable, medium-term resources. The China Co-Financing Fund is funded by the Chinese government and administered by the IDB.
Staff Comments
- The China Co-Financing Fund for Latin America and the Caribbean was established on January 14, 2013 with a contribution of $2 billion by the People's Bank of China. It is administered by the IDB. For more information, see umbrella Project ID#86526.
- AidData has coded this loan's Flow Class as vague since the concessionality is currently unknown.
Sources & References
- IDB Invest backs SME loans from Banco Cuscatlán © 2021 Latin American Financial Publications
- Inc. This text was copied at 6:48:2 AM on 02/09/2021. Additional copying of this piece is not authorized. Copyright policy: https://www.latinfinance.com/pages/copyright-policy
- IDB Invest and IDB Lab join forces with Banco Cuscatlán to expand financing and accelerate the digitization of El Salvador's small and medium businesses
- IDB Invest’s $37.5 Million Loan Facility to Banco Cuscatlán SV
- S.A.
- Banco Cuscatlan de El Salvador consigue recursos para prestar a 'pymes'
- Banco CUSCATLAN Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Banco Cuscatlán
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