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Overview

[China Co-Financing Fund] IDB administers 10 million USD loan from CHC for Banco Continental SME Internationalization Financing Partnership

Commitments (Constant USD, 2023)$10,461,984
Commitment Year•2015Country of Activity•ParaguayDirect Recipient Country of Incorporation•ParaguaySector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 9, 2015
Start (actual)
Jan 1, 2016
First repayment (originally scheduled)
Dec 8, 2017
Last repayment (originally scheduled)
Dec 7, 2020

Geospatial footprint

Map overview

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IDB administers 10 million USD loan from CHC for Banco Continental SME Internationalization Financing Partnership. More detailed locational information can be found at: https://www.openstreetmap.org/way/276501755

Stakeholders

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

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • People's Bank of China (PBC)

Cofinancing agencies

Intergovernmental Organizations

  • Inter-American Development Bank

Receiving agencies

Private Sector

  • Banco Continental S.A.E.C.A.

Implementing agencies

Intergovernmental Organizations

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

Private Sector

  • Banco Continental S.A.E.C.A.

Guarantors

Intergovernmental Organizations

  • Inter-American Development Bank

Loan description

[China Co-Financing Fund] IDB administers 10 million USD loan from CHC for Banco Continental SME Internationalization Financing Partnership

Grace period•2 yearsInterest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

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 Record ID#86526.

Staff comments

1. The project's title in Spanish is "Alianza de Financiamiento Para la Internacionalización de PYME con Banco Continental."