World Bank Group and BBVA close their first significant risk transfer transaction to expand SME financing in Mexico
Mexico, Aug. 24 -- The International Finance Corporation (IFC), a member of the World Bank Group, will provide a credit guarantee of up to MXN 1.795 billion (approximately US$103.5 million) to BBVA Mexico to expand financing for small and medium-sized enterprises (SMEs) in Mexico. This is the first SRT transaction between IFC and BBVA Mexico, as well as the first transaction of its kind between IFC and the BBVA Group globally.SMEs are a cornerstone of Mexico's economy, contributing significantly to job creation and the development of productive value chains. However, many continue to face challenges in accessing financing. By leveraging innovative risk management mechanisms, this transaction will help increase the availability of credit for...
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