Development Finance Agency granted USD 345 million in loans in the last year of management

Asuncion, IP Agency.- Since August 2023, the Development Finance Agency (AFD) has highlighted the channeling of USD 345 million in loans to more than 12,000 beneficiaries through the financial system. The second-tier bank points out that more than 78,000 jobs were generated through credit products.

One year into the Government’s administration, the Development Finance Agency (AFD) highlights several achievements, including the investment grade rating as a historic milestone for the Institution, the launch of the Che Róga Porã program, the achievement of 3 sustainable bond issues, the launch of an Education Guarantee Fund and the channeling of USD 345 million in loans to more than 12 thousand families, which allowed for the creation of more than 78 thousand jobs.

Of these loans, 2,600 were approved for the housing construction program, representing USD 113 million. 80% of these housing approvals were allocated to families with incomes of 1 to 4 minimum wages for the acquisition (55%), construction (33%), renovation (11%) and pre-sale (1%) of housing.

Credits were also granted for the construction of corporate and commercial residential towers in Asunción, for the manufacture of barges, and for works in the productive sector, such as a meat processing plant in Canindeyú, a meat processing plant in Caaguazú, a yerba mate drying plant in Itapúa, among others.

The second-tier bank also supported the financing of undergraduate and graduate studies through its credit product “ProEduc.” 86% of the total financed was allocated to students who completed a master’s degree, while 8% was for undergraduate courses, 3% for technical courses and the same amount for doctorates.

Credits for companies and the productive sector

Through the Paraguay Guarantee Fund (FOGAPY), 6,200 companies were supported in the last year by granting loans, through the financial entities with which it operates, for a value of USD 214 million.

By type of company, the AFD highlights that 94% of the companies benefited correspond to MSMEs.

As for the Guarantee Funds for Women (FOGAMU), loans were granted in the last year to more than 2,400 women for approximately USD 70 million, with which more than 1,200 entrepreneurs were supported, more than 1,000 homes were financed, the development of more than 70 productive projects was supported and studies were financed for 25 Paraguayan women who decided to invest in their education with undergraduate, master’s and doctoral studies.

For the productive sector, USD 50 million in loans were channeled to 890 companies, which enabled the creation of 5,600 jobs. Loans for agro-industrial projects were also possible with the channeling of loans with AFD funds worth USD 11 million to more than 200 beneficiaries.

The forestry sector, which stood out in 2023, received approval for 18 projects worth around USD 10 million and 220 ranchers were awarded projects worth more than USD 7 million to carry out their livestock ventures.