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CAF bets again on Paraguayan SMEs
CAF granted new financing in guaraníes to Sudameris Bank to support the growth of SMEs in Paraguay.
December 12, 2024
CAF -Development Bank of Latin America and the Caribbean- continues to support productivity growth and financial inclusion in Paraguay with the approval of a new loan for Gs. 197,500,000,000,000 for Sudameris Bank (equivalent to USD 25,234,231), with a 4-year financing term to meet the financial needs of more than 80 SMEs (with an average loan of approximately Gs. 2,346,600,000 and the equivalent of USD 300,000), especially those operating in key productive sectors such as agriculture and agribusiness.
Mediante estas operaciones, no solo atendemos las necesidades de financiamiento en moneda local y extranjera, sino que también impulsamos la diversificación de las fuentes de financiamiento en el mercado de valores paraguayo mediante nuestro programa de emisiones de bonos
Antonio Silveira
"Since 2020, CAF's approvals in the Paraguayan financial sector have experienced significant growth, increasing from USD 79 million to USD 230 million in 2024. Through these operations, we not only meet the financing needs in local and foreign currency, but we also promote the diversification of financing sources in the Paraguayan securities market through our bond issuance program," said Antonio Silveira, CAF's vice president for the private sector.
Jorge Srur, CAF's Southern Regional Manager and Representative in Paraguay, highlighted CAF's commitment to the country's productive development. He also noted that, with the capital increase approved by CAF's Board of Directors in 2022, the shareholder countries have also mandated CAF to increase the Bank's participation in supporting the development of the private sector in our countries. This operation is precisely in line with that mandate. In Paraguay, in addition to this support to the productive sector through the financial sector, we are also in the process of evaluating the financing of key projects for the country's development, and promoting the installation of CAF's asset management arm "CAF-AM" in Paraguay, which will make it possible to finance public works through the private sector.
Es un gran orgullo para nosotros haber sido reconocidos por CAF para ayudar al fortalecimiento del financiamiento de largo plazo de PyMES y contribuir en todo el sector productivo, empresarial y emprendedor del Paraguay como líder del sistema financiero
Conor McEnroy
Conor McEnroy, President of SUDAMERIS BANK, mentioned that "It is a great pride for us to have been recognized by CAF to help strengthen the long-term financing of SMEs and contribute to the entire productive, business and entrepreneurial sector of Paraguay as a leader in the financial system".
With this action, CAF reaffirms its role as a strategic ally of Paraguay's economic development through the issuance of bonds in local currency, which not only responds to the financing needs of the Paraguayan market, but also improves terms, interest rates and, therefore, the competitiveness of companies.
