IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, has led the mobilization of capital for a new loan of $93.5 million to Banco Supervielle. This loan, in which international investors have participated and complements the $40 million disbursed by IDB Invest to Banco Supervielle in December 2017, seeks to increase access to long-term financing for small and medium enterprises (SMEs) in Argentina, with a specific focus in the province of Mendoza.

Banco Supervielle aims to increase its SME portfolio and support access to financing for investment in productive activities, innovation and business development. Small and medium enterprises in Argentina, which are responsible for 51 percent of the generation of employment and 44 percent of the generation of wealth in the country, have difficulties in accessing credit compared to large companies. The new IDB Invest loan has a 5-year tenor and will allow Banco Supervielle to support investments that require longer-term financing.

The operation has attracted new actors interested in financing investment to the country's private sector. Under the leadership of IDB Invest, the project has mobilized resources from four international investors.

Supervielle is a competitive bank in business niches such as the SME segment, where it has focused its growth strategy. This operation will also help diversify Banco Supervielle’s funding sources and strengthen the supervision and monitoring of its projects with greater environmental and social risk. The loan is focused on the province of Mendoza which, despite showing signs of significant growth in the last decades, requires investment to promote competitiveness and growth.

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 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 $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 Superveille

Banco Supervielle is a private equity bank founded by the Supervielle family, which took its first steps in the banking sector in 1887. It has a long presence in the Argentine financial system and a leading competitive position in certain attractive market segments. The Bank has developed a multi-brand business model to differentiate the financial products and services it offers to a broad spectrum of individuals, SMEs and large companies in Argentina. It is the main subsidiary of Grupo Supervielle, which is also made up of Cordial Compañía Financiera, Tarjeta Automática S.A., Supervielle Seguros S.A., Espacio Cordial de Servicios, Supervielle Asset Management and Sofital. Since May 2016, the Group's shares are listed in Byma and on the NYSE.