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Banco Galicia – GTLP Agri loan
02 March 2011
A green and sustainable route
Signing in September 2010, this deal was a first-of-its-kind, groundbreaking trade-related project for IFC globally. Partnering with OPEC Fund for International Development (OFID), it was also a deal that ticks boxes for SME export finance, agriculture, development, and sustainability.
Both of the $20 million IFC and OFID tranches were fully oriented towards the financing of projects undertaken by Argentine SMEs in the agri sector, for export-oriented purposes – the IFC tranche is also fully focused on sustainable projects.
The sustainability factor made this the first-ever green line provided by any financier to any financial institution in Latin America’s Southern Cone and it is well aligned with borrower Banco Galicia’s early adoption of...
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