IDB Invest provided a senior loan of up to US$15 million to Finabank to help expand its lending portfolio to small and medium-sized enterprises (SMEs) in Suriname, enhancing financial inclusion and economic resilience in the country. The financing includes a seven-year senior loan.
In Latin America and the Caribbean, micro, small, and medium-sized enterprises (MSMEs) are the main generators of business and employment. Addressing barriers to MSME growth is crucial for advancing economic development and building resilient and thriving communities.
In 2024, Suriname launched the National Financial Inclusion and Education Strategy, with SME access to formal financial systems as a key pillar. Finabank’s increased lending capacity through IDB Invest’s financing will support this initiative by improving credit access for SMEs and enhancing their contribution to the country’s economic growth.
The financing provides Finabank with long-term funding that was previously unavailable in the local markets for SMEs. The loan structure for Finabank promotes financial sustainability while aligning with the bank’s strategic growth objectives.
IDB Invest is also offering advisory services to help Finabank refine its SME value proposition. This includes conducting a market study to assess SME needs, evaluating Finabank’s current SME strategies, and providing recommendations on segment definitions and service improvements.
