The Savings Bank concluded agreements for a financing fund of $400 million, to support Panamanians and SMEs economically affected by the COVID-19 pandemic.
The Savings Bank (Caja de Ahorros) fund is oriented entirely to granting loans for low-income and preferential interest housing of up to $120,000, as well as the delivery of credits to small and medium-sized companies.
The credit lines will be financed by Citi and BBVA, with a guarantee granted by the World Bank's Multilateral Investment Guarantee Agency (MIGA).
This transaction becomes a milestone for state banks, being the first time in history that the bank receives this type of concession for its operational management for the benefit of the country, said the Savings Bank.
According to the bank, these funds will be available to customers in the middle of this month.