[China Co-Financing Fund] IDB administers 5 million USD loan from CHC for Lafise - Bancentro SME Financing Partnership
Commitment amount
$ 5640182.760949175
Adjusted commitment amount
$ 5640182.76
Constant 2021 USD
Summary
Funding agency [Type]
People's Bank of China (PBC) [Government Agency]
Recipient
Nicaragua
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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 project ID #86526.
Additional details
Number of official sources
3
Number of total sources
3
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Inter-American Development Bank [Intergovernmental Organization]
Direct receiving agencies [Type]
Banco Lafise Bancentro S.A. [Private Sector]
Implementing agencies [Type]
Banco Lafise Bancentro S.A. [Private Sector]
China Co-Financing Fund for Latin America and the Caribbean (CHC) [Intergovernmental Organization]