$80m IADB loan supports Uruguay's MSMEs during COVID-19
The Inter-American Development Bank has approved an $80 million loan to strengthen the sustainability of micro, small and medium-sized enterprises impacted by the COVID-19 crisis in Uruguay.
The operation is part of a $1.7 billion-plus support plan announced by the IADB to help the country cope with the sanitary emergency and its impact on health, social, economic and fiscal issues. The loan was approved under new, simplified procedures adopted by the bank to speed up assistance so countries in the region can tackle emergencies more efficiently.
The Global Credit Program for Safeguarding the Productive Fabric and Employment will uphold the short-term financial sustainability of Uruguay’s MSMEs and foster their economic recovery through access to productive financing.
