IDB Approves $20m for Banco Ficohsa

The IDB has approved a $20m senior A/B loan for Honduras’ Banco Ficohsa to support the expansion of housing loans and credit for SMEs. It is part of a $25m medium to long-term credit facility, with a $5m MIF subordinated loan expected to be approved shortly. “The new loans will help Ficohsa to expand its mortgage portfolio and issue more loans to small and medium-sized businesses,” says the IDB. “It will also help to diversity Ficohsa’s funding sources and extend the terms of its debt obligations.” Ficohsa is the third largest bank in Honduras in terms of assets. In December 2007 it had $1.1bn in assets and $780m in deposits, says the IDB.