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Guatemala's Banco Industrial obtains $350M in foreign financing

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Guatemala's Banco Industrial obtains $350M in foreign financing

Guatemala-based Banco Industrial SA has received $350 million in fresh funding from international sources to help the bank finance housing loans and credit to small and medium-sized enterprises, Prensa Libre reported.

The bank obtained $100 million each from the Inter-American Development Bank and Wells Fargo, while the remaining $150 million came from the U.S. government's Overseas Private Investment Corp., according to Luis Prado, international banking director at Banco Industrial.

The executive said the bank will use $150 million of the total to grant housing loans and the remaining amount to support SME projects.