IDB approves loan to support Bolivia

The Inter-American Development Bank (IDB) approved a $ 130 million loan to support the short-term financial sustainability of micro, small and medium-sized enterprises in Bolivia, in the context of the crisis caused by the pandemic and its effects on the productive scenario.

The loan has a repayment term of 21.7 years, which Bolivia will begin to pay in practically 12 years.

The program plans to benefit at least approximately 12,000 small businesses affected by the crisis, through loans that will be granted through different financial institutions, with more than 30% of total resources going to women-owned companies.

The agency explains that the action seeks to help companies overcome temporary liquidity problems and preserve employment, while at the same time maintaining their productive activity, business continuity and operations.

In this line, the loan seeks to mitigate the restrictions on access to credit faced by SMEs, affected by the Covid-19 crisis, to preserve the productive fabric, reduce the burden on social protection systems, and improve the speed of recovery. economic once the health emergency is overcome.

K. Tovar

Source: agencies