The Development Bank of Latin America and the Caribbean (CAF) formalized a line of credit of $25 million with Banistmo to finance small and medium-sized enterprises (SMEs) in Panama, including those led by women and green projects.

The signing of the agreement took place at the CAF Country Office in Panama City, with the participation of representatives of both institutions.

Banistmo, a subsidiary of the Bancolombia Group, stands out for its Corporate Governance and environmental practices. Through its sustainable business strategy, it will support with this firm the development of projects that promote clean technologies, circular economy and renewable energies. In addition, it has a gender strategy called IMPULSA, which seeks to support women entrepreneurs through financial inclusion.

Lucía Meza, CAF representative in Panama, stressed that the agreement is in line with the renewed agenda of the CAF in the Private Sector, focused on sustainable economic development through SMEs and green projects, as well as gender equality.

For his part, Juan Gonzalo Sierra, Vice President of Finance of Banistmo, expressed the institution’s commitment to support SMEs, promote sustainability and promote the financial inclusion of women in the Panamanian economy.