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[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Sudameris Bank SME Financing Partnership
| Funder | People's Bank of China (PBC) |
|---|---|
| Recipient Organization | Sudameris Bank S.A.E.C.A. (Banco Sudameris) |
| Country | Paraguay |
| Start Date | Dec 04, 2015 |
| End Date | Oct 10, 2033 |
| Duration | 6,520 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85367 |
Grant Description
[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Sudameris Bank SME Financing Partnership On 4 December 2015, the Inter-American Development Bank (IDB) signed two loan contracts with Sudameris Bank for a SME Financing Partnership, through which IDB would provide 10 million USD from its ordinary capital (Loan 2988A/OC-PR), and the People's Bank of China would provide 5 million USD (Loan 2988/CH-PR) via the China Co-Financing Fund for Latin America and the Caribbean (CHC).
IDB would also provide a local currency partial credit guarantee of up to 50 billion PYG for the 10 million USD Loan 2988A/OC-PR, and the IDB would offer technical assistance to Sudameris to help develop of new business lines and financial products aimed at green investment projects in SMEs.
The IDB approval date for this loan financing was 18 September 2013, and it refers to this project as "PR-L1078 : Sudameris Bank SME Financing Partnership". This funding was to be used by Sudameris Bank to increase lending to small and medium enterprises (SMEs). The IDB lists the project status as "Closed".
The Sudameris 2017 Annual Report lists the debt obligation owed to IDB as 86,503,950,000 PYG.
As of 31 December 2020, Sudameris Bank's outstanding debt obligation owed to the IDB was 11,500,183,149 PYG, which converts to around 2 million USD.
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.
Staff Comments
1. The project's title in Spanish is 'Asociación con Sudameris Bank para Otorgar Financiamiento a PyMEs.'2. Assumption made that the amounts authorized in September 18, 2013 were the amounts actually provided in the loan contract, because the loan contract is not available through the IDB website or other sources.
Sources & References
- SUDAMERIS BANK S.A.E.C.A.
- RESOLUCIÓN DE-107/13
- ALIANZA PARA EL FINANCIAMIENTO DE PYMES CON SUDAMERIS BANK (PR-L1078) RESUMEN DE PROYECTO
- Sudameris Bank 2017 Report
- ESTADO DE SITUACIÓN PATRIMONIAL AL 31 DE DICIEMBRE DE 2020 y 2019
- Paraguay. Sudameris Bank SME Financing Partnership China Co-Financing Fund for Latin America and the Caribbean 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
Sudameris Bank S.A.E.C.A. (Banco Sudameris)
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