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U.S. International Development Finance Corporation Approves $200 million Investment in Guatemala as part of $1 Billion of Investments in Global Development
Investment supports Guatemala as it recovers from COVID-19
The U.S. International Development Finance Corporation (DFC) Board of Directors has approved a loan of up to $200 million in Guatemala as part of $1 billion of global investments that will advance development in Africa, Latin America, the Indo-Pacific, and emerging markets across the globe.
The approved global investments will strengthen health systems, bolster food security, and support other highly impactful development outcomes. As part of this $1 billion in global financing, the DFC Board of Directors approved the following investment in Guatemala:
· A loan of up to $200 million will enable Banco Industrial to expand lending to Guatemala’s small and medium enterprises (SMEs), which face a roughly $14 billion credit gap that limits their ability to expand, increase revenues, and create jobs. The project will dedicate at least 30 percent of loan proceeds to women and place a special focus on reaching rural borrowers in Huehuetenango, Quetzaltenango, Quiche, San Marcos, Totonicapán, and Alta Verapaz.
This investment directly supports the memorandum of understanding the U.S. and Guatemalan governments signed in January 2020, as well as the U.S. government’s América Crece initiative.
“These projects will uplift some of the most underserved communities around the world,” said DFC Chief Executive Officer Adam Boehler. “They demonstrate DFC’s commitment to use its enhanced
toolkit to deliver transformative results. The impact of these projects will be particularly meaningful as the world continues to fight the health and economic fallout of the pandemic.”
These investments will deliver far-reaching development impact around the world by expanding access to energy, financial services, and economic opportunity.
This investment is subject to congressional notification.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. Contact: firstname.lastname@example.org and/or +1 (202) 312-2188.