Itau Paraguay Gets $40m LoC

Banco Itau Paraguay will receive $40m from the IFC and OPEC Fund for International Development (OFID). The investment consists of a four-year credit line of up to $20m to fund multi-industry small and medium enterprises, and a four-year credit line of up to $20m to increase access to finance for farmers and small and midsize agribusiness firms. The transaction represents the IFC’s fourth debt investment in Paraguay’s financial system, and OFID’s first, Salem Rohana, IFC country manager for Argentina, Chile, Paraguay, and Uruguay, says in a statement.