Line of credit granted to Banco Metropolitano
May 05, 1992
(Caracas, May 5, 1992).- A US$5 million line of credit to finance foreign trade operations was today granted to Banco Metropolitano.
The credit line will finance imports of goods and services required by the productive sectors of Venezuela, along with exports to the Andean Group and third countries.
To facilitate the foreign trade operations of its member countries, CAF has two mechanisms: the Andean Trade Finance System (SAFICO), and the Confirmation and Financing Mechanism for Letters of Credit and Imports (MECOFIN).
Depending on the type of operation, the amounts to be financed under this line of credit will be between US$10,000 and US$50,000, with a maximum term of 180 days with certain exceptions.
The agreement was signed by CAF President & CEO Enrique García and the Vice President & Deputy CEO of Banco Metropolitano, Italo Mangiamarchi.
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