Small and medium size entrepreneurs in Nicaragua are getting a big financial lift from a new IFC program. A member of the World Bank Group, IFC is structuring a will provide up to $115 million in financing to Nicaragua’s Banco LAFISE BANCENTRO, S.A., meant to boost access to credit for small and medium entrepreneurs and increase access to housing loans for families. LAFISE BANCENTRO will use the funding for its climate smart portfolio, for companies wishing to adopt more energy efficient practices and access clean energy sources. The IFC financing will allow more companies to access credit needed to invest in clean energy projects. “With IFC’s support, we are helping more Nicaraguans follow their dreams – whether that means growing a business or becoming a homeowner for the first time,” said Mr. Roberto J. Zamora Llanes, LAFISE BANCENTRO’S Chairman. “IFC’s support also allows us to make funds available that are targeted to energy efficiency.”
LAFISE BANCENTRO will also use the funding to provide loans to finance climate smart projects. By introducing green finance standards into LAFISE BANCENTRO’s lending practices, IFC hopes to encourage other Nicaraguan financial institutions which are unfamiliar with this market to follow suit. LAFISE BANCENTRO, S.A. is the largest banking subsidiary of LAFISE GROUP, a financial group established in 1985, with presence in eleven countries and more than $4 billion in assets.
