The Inter-American Development Bank has set up a $100 million facility to strengthen lending to small and medium-sized enterprises in Latin America and the Caribbean.
In a May 19 press release, IDB called its SME Financing Facility as the first of its kind. The facility will channel resources through financial institutions in IDB borrowing countries, which will then on-lend or provide guarantees to SMEs.
According to IDB, the unmet credit demand among regional SMEs exceeds $100 billion.
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