- IDB Invest is supporting Banpro in launching its first future flow securitization program
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, signed a financing of up to $40 million with Banco de la Producción S.A. (Banpro), the largest bank in Nicaragua and a subsidiary of the Promerica Group. The financing will consist in a U.S. dollar loan to the diversified payment rights (DPR) securitization program of this entity. IDB Invest is supporting Banpro in launching its first financing under a DPR program, backed by IDB Invest’s quality seal.
A DPR transaction is a financial future flow securitization used by financial institutions in emerging markets to obtain attractive access to international capital markets.
The financing is aimed at increasing the availability of credit for Banpro's agribusiness and small and medium enterprise clients. Banpro is one of the most important market players in providing financing to the Nicaraguan agribusiness value chain, which is approximately 35 percent of the market share. Currently, more than 60 percent of the country’s exports relies on this sector, and the financing will support the country’s most important productive sector.
It is expected that this operation will potentially contribute to four of the United Nations Sustainable Development Goals: Decent work and economic growth (SDG 8); Industry, innovation and infrastructure (SDG 9); Reduced inequalities (SDG 10) and Partnerships for the goals (SDG 17).
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects so they can achieve financial results and maximize the region’s economic, social, and environmental development. With a portfolio of $12.4 billion in assets under administration and 342 clients in 24 countries, IDB Invest provides innovative financial solutions and advisory services in response to its clients’ needs in a variety of sectors.
Banpro is the largest Bank in Nicaragua and part of Grupo Primerica. Banpro is a universal bank with a footprint in commercial lending, housing and personal banking including credit cards. Banpro has more than 700,000 clients and a network of 4,104 customer access points and more than 2,000 permanent employees. Banpro is part of Grupo Promerica (Promerica Financial Corporation), with presence in Nicaragua, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Panama, Dominican Republic and Cayman Islands.