The OPEC Fund for International Development has inked a US$430 million loan contract with Paraguay’s Banco Sudameris. The deal envisages giving 60% of the said loan amount to support SMEs across Paraguay and the balance 40% to finance agribusinesses and farmers. This partnership will facilitate access of SMEs to funds while protecting jobs, addressing liquidity concerns, and ensuring business continuity. Safeguarding food security and boosting agriculture sector’s resilience are other vital priorities for the OPEC Fund. This is the second loan that OPEC Fund is extending to Banco Sudameris. In 2018, it routed a US$20m loan to 90 SMEs via Banco Sudameris.
