August 5, 2019 |
IDB Invest said it has structured and acquired the first social gender bond in Latin America, a five-year, $50m paper from Panama's Banistmo.
The Panama City-based bank will use the money to finance loans to small and medium-sized enterprises (SMEs) led by women, IDB Invest said in a press release.
At least half the funds will go to commerce and services with no less than 80% of the loans for up to $250,000 each and the rest for up to $500,000 each, according to a document from IDB Invest.
Multilateral lender acquires $50m in five-year notes to fund loans for women-led SMEs