IDB Invest boosts MSME access to financing in Guatemala
IDB Invest has provided the Genesis Business Foundation a loan in quetzals equivalent to $20 million to support increased access to financing for micro, small and medium-sized enterprises in Guatemala.
The deal has a five-year tenor and a one-year grace period. It consists of senior unsecured financing, comprising a committed tranche of $12 million and an uncommitted tranche of $8 million.
The financing will provide the necessary resources in the mid-term to facilitate the sustainable growth of FGE's microfinance portfolio and will focus on loans to MSME. Additionally, the expansion of the microfinance portfolio will be promoted through financial and technological inclusion, which will allow MSME greater reach and economic accessibility, mainly in rural Guatemala.
