Banco para la Comercialización y la Producción S.A.

repaid

The Inter-American Investment Corporation (IIC) approved a loan of up to US$2 million to Banco para la Comercialización y la Producción S.A. (Bancop) to expand its lending operations with Paraguayan small and medium-sized enterprises (SMEs) in the agricultural, livestock, commercial, industrial, and services sectors, thereby boosting agricultural and livestock production in Paraguay.The project consists of a loan to Bancop. The purpose of this IIC operation is to help Bancop increase its loan operations for medium-term projects with Paraguay’s small and medium-sized enterprise sector, including rural producers, through loans to producers’ cooperatives and/or small or medium-sized producers, thereby promoting crop and livestock production in Paraguay.On January 31, 2012, the Central Bank of Paraguay (BCP) issued Bancop a license to operate, and on July 16, 2012, the bank opened its doors to the public. Paraguay’s first cooperative-owned bank, Bancop currently has 27 producers’ cooperatives as shareholders. Its purpose is to provide long-term loans to cooperatives, their members, and any other customer interested in working with it, thus boosting their productive capacity.