Sagicor supplies SME loans with IFC funding

Sagicor supplies SME loans with IFC funding

International Financial Institutions World Bank Loans Caribbean Barbados Jamaica United States

The Barbados-based financial services group Sagicor has borrowed $40 million from the International Finance Corporation (IFC) to supply working capital loans to small and medium-sized enterprises (SMEs) in Jamaica, according to a press release on Monday. IFC, part of the World Bank Group, previously advised Sagicor on now to increase credit to SMEs in Jamaica, it said in the press release. Before the COVID-19 pandemic, according to IFC, Jamaica's SMEs already faced a financing gap of $2.7 billio

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