The Atlantic Bank has gotten a major loan to help out micro, small, and medium enterprises. The bank has signed an agreement with the IDB for up to $30 million US dollars which will be on-lent to MSMEs in Belize.
The agreement was signed earlier this week in Miami by Atlantic Bank's Chairman, David Bueso, Managing Director, Greg Maheia, with officials from IDB Invest.
A release notes that "Belize's private sector consists primarily of MSMEs, most of them operating in the services sector." They generate more than 70% of employment, but, historically, MSMEs face challenges in terms of access to financing, because they are considered riskier.
And that's why this 30 million US dollar loan will offer MSMs's access to stable, medium-term financing. The release adds that "IDB Invest will complement the loan with advisory services to assist Atlantic Bank to strengthen its strategy for the MSME segment, including a differentiated and effective approach to women-led MSME's.
