The Project consists of a total financing package of up to US$30 million to support the small and medium enterprises (“SMEs”) strategy of Banco Agrícola, S.A. (“Banco Agrícola”). The Inter American Development Bank Group (“IDB Group”) will participate through an unsecured A Loan of up to US$18 million with a four year term and includes the participation of B Lenders for up to US$12 million.
The purpose of the Loan is to provide medium-term financing to support the growth of Banco Agrícola’s SMEs portfolio. In the last year, Banco Agrícola has worked to strengthen its portfolio of services and support model to this segment with the purpose of strengthening its positioning as a strategic partner of SMEs. Banco Agrícola currently serves more than 35,000 SMEs with a particular focus on commerce and services sectors.