- Supporting Honduras Small & Medium Enterprises (SMEs)
Supporting Honduras Small & Medium Enterprises (SMEs)
|Borrower||Banco Financiera Comercial Hondureña (Banco Ficohsa)|
|Financing Type||Private Sector & Trade Finance|
|Instrument||Private Sector Debt|
|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.