IDB Invest finances Metrobank to increase credit to SMEs in Panama

Thursday, February 7, 2019

Press release from IDB Invest

6 February, 2018

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IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, has signed a senior syndicated loan of up to $29.25 million with Metrobank of Panama. The objective of the project is to increase financing to small and medium enterprises (SMEs).

The loan strengthens Metrobank in the SME segment while improving its financing position to support the diversification process of its portfolio. This loan will improve the access of Panamanian SMEs to financial products and services.

The financial package consists of a $20 million loan for a three-year term and the mobilization of $9.25 million for a similar term that has the participation of Bancaribe Curaçao Bank NV. and Symbiotics, a Swiss impact investor that has allowed Metrobank to expand its funding sources.

IDB Invest will also support Metrobank with training in export services through group workshops. This is expected to facilitate exports for Panamanian SME and contribute to the economic integration of Latin America and the Caribbean.

About IDB Invest

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.

About Banco Metrobank

Metrobank S.A. is a private entity with Panamanian capital operating in Panama since May 14, 1991 under the protection of a General License granted by the Superintendency of Banks of Panama (SBP), which allows it to carry out banking activities throughout the Republic of Panama or abroad. With more than 28 years in the financial market, Grupo Financiero Metrobank offers a complete portfolio of products and services to our clients of Corporate and Commercial Banking, Private Banking and Consumer Banking, supported by a robust technological infrastructure