[China Co-Financing Fund] IDB administers 10 million USD loan from CHC for Banco Continental SME Internationalization Financing Partnership
Commitment amount
$ 11222755.695789525
Adjusted commitment amount
$ 11222755.7
Constant 2021 USD
Summary
Funding agency [Type]
People's Bank of China (PBC) [Government Agency]
Recipient
Paraguay
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On 9 December 2015, the Inter-American Development Bank (IDB) signed two loan contracts with Banco Continental S.A.E.C.A., through which IDB would provide 20 million USD from its ordinary capital (Loan 3294/OC-PR), and the People's Bank of China would provide 10 million USD (Loan 3294/CH-PR) via the China Co-Financing Fund for Latin America and the Caribbean (CHC). Both loans had a five year maturity period and a two year grace period. IDB provided a local currency partial credit guarantee of 44 billion PYG for the 20 million USD Loan 3294/OC-PR (Guarantee 3295/OC-PR). The loan proceeds were to be used by Banco Continental for on-lending to micro, small and medium-sized enterprises with the aim of promoting their growth and internationalization. Loans to SMEs would range from 10,000 USD to 1 million USD. The IDB approval date for this loan financing was 15 October 2014, and it refers to this project as "PR-L1087 : Banco Continental SME Internationalization Financing Partnership". As of July 2021, the IDB lists the project status as implementation. 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
1. The project's title in Spanish is "Alianza de Financiamiento Para la Internacionalización de PYME con Banco Continental."
Number of official sources
5
Number of total sources
5
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Inter-American Development Bank [Intergovernmental Organization]
Direct receiving agencies [Type]
Banco Continental S.A.E.C.A. [Private Sector]
Implementing agencies [Type]
Banco Continental S.A.E.C.A. [Private Sector]
China Co-Financing Fund for Latin America and the Caribbean (CHC) [Intergovernmental Organization]
Guarantee provider [Type]
Inter-American Development Bank [Intergovernmental Organization]
Loan Details
Maturity
5 years
Grace period
2 years