Regional Bank and Citibank business alliance sealed
The Paraguayan Regional Bank granted a credit line of $ 30 million to be earmarked for projects of small and medium producers with special financing conditions in terms of deadlines, executives confirmed yesterday the local bank.
"Through this agreement, the Regional Bank support SMEs (small and medium enterprises) and new projects with long-term financing, through encouraging industrial production units, trade and services operating in the country", said since the Regional Executive flat.
The official announcement will be made tomorrow in just a press conference where he will provide details of the agreement with the U.S. financial giant Citibank. On the occasion, shall sign the agreement that has the support part of the Overseas Private Investment Corporation (OPIC, for its acronym in English).
This is the second line of credit that Regional access, as in 2008, Citi had already provided $ 15 million. The executives of the bank advanced the fees to be applied by Citi will be indexed according to the international Libor rate and the loan term is 10 years, which gives considerable scope for Regional to finance long term projects.
The funds are now available and will transfer once required Regional, which can be over the next six months, executives of the bank reported a couple of times to emphasize that those provided were pushed out of business in response to local financial market is difficult to have money in the long term.
OPIC AVAL DE
Funding is granted by Citibank NA is supported by the Corporation for Overseas Private Investment (OPIC), a government agency of the United States Government that invests in economic development in emerging markets, complements the private sector in managing risk associated with investment and supports U.S. foreign policy of America. OPIC services currently available in over 150 countries worldwide.
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