Citi has structured a Social Trade Loan for Banco Agromercantil de Guatemala (Bam) to provide crucial funding to small and medium enterprises (SMEs), fostering inclusive economic growth. This marks the first Social Trade Loan with Grupo Bancolombia.
The approved amount of USD 30 million will be used to improve small businesses’ access to financing, helping them expand their operations.
“We are proud to support initiatives that create meaningful change and contribute to building sustainable, resilient communities across Guatemala. With these productive credits, we aim to advance the financial ecosystem and expand access to essential services,” said Julio Álvarez, Citi Country Officer for Citi Guatemala.
This transaction aligns with Citi’s Social Finance goal of providing access to basic services and economic opportunities for 15 million low-income households, including 10 million women, in emerging markets. It also supports Citi’s broader objective of financing and facilitating $1 trillion in sustainable finance by 2030.
Manuel Chavez Rivera, Vice President of Finance at Bam, added, “This transaction represents a significant step in supporting SMEs in Guatemala, allowing them to access the resources needed to enhance their growth, generate employment, and promote economic well-being. We are committed to promoting sustainable development for the benefit of all.”
Between 2022 and 2023, Citi closed 50 social finance transactions totaling approximately USD 3 billion, expanding access to essential services in underserved communities across Latin America and the Caribbean.
