Scotiabank Let’s SME – Digital Services for SMEs

proposed

The proposed transaction consists of a senior unsecured loan for Scotiabank El Salvador, S.A. (Scotiabank) for up to US$37.5 million. The loan package consists of an unsecured senior loan for up to US$37.5 million, including: (i) US$15 million from IDB Invest; (ii) US$10 million from IDB; and (iii) US$12.5 million mobilized through possible co-financing to be financed by IDB Invest in its capacity as administrator of the China Co-financing Fund for Latin America and the Caribbean (the “Fund”). IDB Lab will, in turn, provide technical advisory services on the design and implementation of an SME digital platform called “Let’s SME” that seeks to provide digital financial services to Scotiabank’s SME clients.