![US$50 million for Argentine productive sector US$50 million for Argentine productive sector](/media/28808/caf_004.jpg)
US$50 million for Argentine productive sector
- CAF and Banco de la Nación Argentina today signed an agreement for a rotating letter of credit to finance SMEs and the business sector
"The line of credit granted to BNA is part of this multilateral bank's strategy to support BNA in its efforts to promote investment and trade and commerce in Argentina and the region. The medium-term funds granted to the Bank will be used to finance new investments, purchase fixed assets and support the commercial activity of SMEs and corporate customers." García said.
BNA is owned by the Argentine state. It is the leading financial entity in the nation with 21% of the assets and 24% of the deposits of the banking system. The institution grants loans mainly to SMEs, while in corporate banking its actions are aimed at developing structures to support the value chain of large companies through short- and medium-term loans and bank services for their suppliers.
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