IDB Invest boosts Salvadoran SMEs with $37.5m loan

IDB Invest has provided a $37.5 million loan with a tenor of up to five years to Banco Cuscatlán of El Salvador to boost financing for small and medium-sized enterprises. The loan was managed by Imperia Intercontinental, Inc., Banco Cuscatlán’s main shareholder. 

The project also includes $12.5 million mobilized from the Chinese Co-financing Fund for Latin America and the Caribbean. IDB Lab, also part of the IDB Group, will support the project through a $750,000 technical cooperation, which seeks to support the development of Salvadoran SME through a digitization program to access a range of financial and non-financial services focused on building capacity in business, management and technology.