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 Project ID#86526)

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. These loans carried a five year maturity period, and the other loan terms are currently unknown. 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.

Additional details

1. 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. 2. AidData has coded this loan's Flow Class as vague since the concessionality is currently unknown.

Number of official sources

1

Number of total sources

5