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G&T Continental receives $100 million for small firms

Thursday, December 20, 2012

Banco G&T Continental, a commercial bank based in Guatemala, recently received a loan of $100 million from the International Finance Corporation Capitalization Fund, a unit of World Bank Group Member IFC.

This loan is intended to help the bank expand services to small enterprises in Costa Rica, El Salvador and Panama.

According to Flavio Montenegro, chief executive officer of the bank, “For G&T Continental this is an operation that strengthens our long-term funding and our capital position, which will support Guatemala’s economy increasing the funding available for the industries of our country”.

Source: MicroCapital