June 11, 2019 |
Canadian bank wants $37.5m to roll out a digital platform for SMEs in El Salvador
Canada's Scotiabank has requested a $37.5m loan from IDB Invest to develop a digital platform for small and medium-sized enterprises (SMEs) in El Salvador.
The proposed financing involves $15m from IDB Invest itself plus $10m from the IDB and $12.5m through the China Co-financing Fund for Latin America and the Caribbean, according to IDB Invest.
IDB Lab could also advise Scotiabank on how to design and implement the new platform called "Let's SME." IDB Invest's board is scheduled to review the proposal on July 25.