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- Operations
- Supporting Honduras Small & Medium Enterprises (SMEs)
Supporting Honduras Small & Medium Enterprises (SMEs)
Honduras
| Borrower | Banco Financiera Comercial Hondureña (Banco Ficohsa) |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Financial |
| Approved | 22.04.2021 |
| Signed | 11.06.2021 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| OPEC Fund Contribution (US$m) | 25.00 |
The OPEC Fund has signed a US$25 million loan with Banco Ficohsa, Honduras for on-lending to small- and medium-sized enterprises (SMEs) affected by disruptions caused by the COVID-19 pandemic and two hurricanes that hit the country in late 2020.
The OPEC Fund’s term loan to Banco Ficohsa will be used for on-lending to SMEs engaged in sectors including agriculture, manufacturing and textiles.
This financing is well-aligned with the United Nations Sustainable Development Goal 8 – decent work and economic growth. This is the fourth loan the OPEC Fund has extended to Banco Ficohsa. Earlier proceeds provided circa 134 sub-loans to SMEs active in agribusiness, manufacturing and textiles, and to strengthen the Bank’s capital base.