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[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Lafise - Bancentro SME Financing Partnership
| Funder | People's Bank of China (PBC) |
|---|---|
| Recipient Organization | Banco Lafise Bancentro S.A. |
| Country | Nicaragua |
| Start Date | Oct 30, 2013 |
| End Date | Nov 27, 2030 |
| Duration | 6,237 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85356 |
Grant Description
[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Lafise - Bancentro SME Financing Partnership On 30 October 2013, the Inter-American Development Bank (IDB) signed a loan contract with Banco LAFISE Bancentro (Bancentro) to finance the SME Financing Partnership, through which the IDB would provide 10 million USD from its ordinary capital (Loan 2956/OC-NI), and the People's Bank of China would provide 5 million USD (Loan 2956/CH-NI) via the China Co-Financing Fund for Latin America and the Caribbean (CHC).
The 15 million USD of financing administered by the IDB would cover the total cost of the project.
The purpose of this project was to increase access to financing for small, and medium-sized enterprises (SMEs) in Nicaragua. The average value for sub-loans provided through this program would be about 33,000 USD. A portion of the funding would also be designated for women-led SMEs. The IDB lists the project status as "Closed".
The China Co-Financing Fund was established on 14 January 2013 with a contribution of 2 billion USD by the People's Bank of China, and it is administered by the IDB. For more information, see umbrella Record ID#86526.
Sources & References
- NI-L1075 : Lafise - Bancentro SME Financing Partnership
- PROJECT ABTRACT
- Environmental and Social Management Report Banco Lafise Bancentro (Nicaragua)
- SME Finance Partnership (NI-L1075) 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 Lafise Bancentro S.A.
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