Friday, February 3, 2023

IDB Invest and FinDev Canada strengthen regulatory capital of Banco de Occidente

}} IDB Invest and FinDev Canada joined efforts to strengthen Banco de Occidente SA’s regulatory capital for a total of US$100 million, through two parallel subordinated leverages. bid investment provided US$70 million, and FinDev Canada provided US$30 million.

The financing will strengthen the expansion of the portfolio of small and medium-sized companies (SME) Colombian, facilitating access to credit. as a matter of fact ColombiaOnly 40% of this type of company can receive financing, which represents 25% of the national GDP.

Las SME represent for bank of bogota A strong strategic representation whereby this operation, with a duration of up to 10 years, will support the growth and consolidation of this segment as a priority and into the new working capital financeCapital investment and real estate.

it is important to note that bid investment will provide western bank Advisory services aimed at helping in the design and implementation of its sustainable financing strategy, which is why action plans will be implemented for the development and strengthening of internal capabilities in Banco de Occidente.

“At Banco d’Occident we want to promote sustainable financing ods As a fundamental part of the strategy and for this reason, as a financial entity, we aim to provide support to the Colombian business structure. This collaborative work with IDB Invest and FinDev Canada fills us with pride and highlights our management over the years as a benchmark in offering credit options to SMEs.” Cesar Prado VillegasPresident of Bank of the West.

In addition, the operation is expected to contribute sustainable development goalsFounded by the United Nations: Alliance for decent work and achieving objectives such as economic growth, industry, innovation and infrastructure, and so on.

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Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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