• The project will expand SME financing in Suriname, fostering economic growth.

IDB Invest provided a senior loan of up to US$15 million to Finabank to help expand its lending portfolio to small and medium-sized enterprises (SMEs) in Suriname, enhancing financial inclusion and economic resilience in the country. The financing includes a seven-year senior loan.

In Latin America and the Caribbean, micro, small, and medium-sized enterprises (MSMEs) are the main generators of business and employment. Addressing barriers to MSME growth is crucial for advancing economic development and building resilient and thriving communities.

In 2024, Suriname launched the National Financial Inclusion and Education Strategy, with SME access to formal financial systems as a key pillar. Finabank’s increased lending capacity through IDB Invest’s financing will support this initiative by improving credit access for SMEs and enhancing their contribution to the country’s economic growth.

The financing provides Finabank with long-term funding that was previously unavailable in the local markets for SMEs. The loan structure for Finabank promotes financial sustainability while aligning with the bank’s strategic growth objectives. 

IDB Invest is also offering advisory services to help Finabank refine its SME value proposition. This includes conducting a market study to assess SME needs, evaluating Finabank’s current SME strategies, and providing recommendations on segment definitions and service improvements. 

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website idbinvest.org/en. 

About Finabank

Finabank N.V., established in 1991, is a privately owned commercial bank headquartered in Paramaribo, Suriname. Finabank is recognized as one of the four systematically important banks in the country, leading in governance, risk management, profitability, and maintaining sound banking ratios. The bank operates five branches located in the Centre of Paramaribo, Paramaribo North, Paramaribo South, the district of Wanica, and the district of Nickerie. Finabank offers a comprehensive range of financial products and services tailored to meet the needs of its diverse clientele, including merchant banking, business, mass retail, high-end retail, government, and financial institutions. In recognition of its financial stability and prudent management, Finabank holds a local credit risk rating of A+/A from CariCris, making it the only financial institution in Suriname with such a distinction.