The Development Finance Agency (@afd_py) also achieved investment grade credit rating from Moody’s.
Financing will be provided under better conditions, which will be reflected in the products available to citizens.
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— IP Paraguay (@IPParaguay) July 31, 2024
Asuncion, IP Agency.- Along with Paraguay, the Development Finance Agency (AFD) also saw its rating improved by Moody’s, reaching investment grade. This will allow second-tier banks to obtain funds under better conditions for the products they make available to citizens.
The president of the Agency, Stella Guillén, pointed out that the direct impact of this news translates into the confidence of the international market, which means that the AFD will be able to access resources from abroad at lower rates and better financing conditions.
“We are now broadening the spectrum of potential investors and these investors are of the highest quality,” Guillén said. With this improvement in conditions, AFD products offered through the financial market will also have favorable financing characteristics for those interested.
The products will have a better level of financing, whether for first-time home loans, for SMEs, for university studies, among others.
“We have specific lines of financing, but the important impact on people’s lives is also the role played by the AFD in signaling, lowering rates, and extending terms,” through these favorable conditions for citizens, he said.
He pointed out that around 50% of the housing finance market corresponds to credit lines offered through the AFD. In addition to the financial products already established, there is Che Roga Pora, where the AFD makes available credits with an interest rate of 6.5% for real estate projects to be built.
Guillén reported that 182 loans were pre-approved in less than 20 days and stressed that more housing projects will be added as a result of the Government’s initiative together with the public sector.
#investment #grade #AFD #offer #financing #conditions #products
2024-08-05 22:07:15
