Banco Cuscatlán in El Salvador joins the IDB Invest Trade Finance Facilitation Program
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, and Banco Cuscatlán in El Salvador signed an agreement for the Salvadoran institution to join the IDB Invest Trade Finance Facilitation Program (TFFP).
The agreement gives Banco Cuscatlán access to credit guarantees with large international banks and to a financing line that will allow it to expand its offering of foreign trade products. The operation allows it to continue growing and expanding more into international markets.
The IDB Invest Trade Finance Facilitation Program, which includes more than 200 regional and international banks, aims to promote economic growth in the region through the expansion and diversification of funding sources available to importers and exporters. The TFFP mainly supports the internationalization of small and medium enterprises.
About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of US$11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.
About Banco Cuscatlán
Banco Cuscatlán is one of the leading banks in El Salvador. Banco Cuscatlán was created in 2016 from the acquisition of Inversiones Imperia Cuscatlán to Citi Group. It has 57 service centers throughout El Salvador and has 1,650 employees nationwide. It has an investment of $25 million to position itself as a digital leader in Salvadoran banking. Cuscatlán was recently recognized by Global Finance, obtaining the first place in the country in the 18th Annual World Foreign Exchange Provider Award.