IDB Invest, the private sector division of the Inter-American Development Bank, raised the equivalent of $28 million in its latest bond sale in the Paraguayan market.
The proceeds of the six-year deal will fund a loan to Banco Popular to support its lending to micro- and small businesses, the multilateral lender said Tuesday in a news release.
The transaction, IDB Invest’s eighth in the local bond market, was coordinated by local brokerage Cadiem and drew orders from a diversified base of local institutional investors, the release said.
IDB Invest said it is committed to developing Paraguay’s local capital markets and expanding access to long‑term financing in guaranis.