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Overview

[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Lafise - Bancentro SME Financing Partnership

Commitments (Constant USD, 2023)$5,169,856
Commitment Year•2013Country of Activity•NicaraguaDirect Recipient Country of Incorporation•NicaraguaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 30, 2013

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

  • People's Bank of China (PBC)

Cofinancing agencies

Intergovernmental Organizations

  • Inter-American Development Bank

Receiving agencies

Private Sector

  • Banco Lafise Bancentro S.A.

Implementing agencies

Intergovernmental Organizations

  • China Co-Financing Fund for Latin America and the Caribbean (CHC)

Private Sector

  • Banco Lafise Bancentro S.A.

Loan description

[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Lafise - Bancentro SME Financing Partnership

Interest type•Unknown

Narrative

Full Description

Project narrative

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.