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Proparco supports Banco de Antigua to expand access to financial services for vulnerable populations in Guatemala
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Proparco and Banco de Antigua, a leading microfinance bank in Guatemala, announce their first partnership with the signing of a senior debt facility of up to USD 10 million equivalent in GTQ to strengthen its lending capacity and foster financial inclusion among underserved communities. This partnership also includes technical assistance provided by Proparco to Banco de Antigua on client protection matters, aimed at strengthening and promoting high standards of responsible client treatment. The agreement was signed during an official ceremony in the presence of H.E. Frédéric Clavier, Ambassador of France to Guatemala and Françoise Lombard, CEO of Proparco, on the occasion of her first visit in the country.
Founded in 1998, Banco de Antigua is a Guatemalan bank specialized in financing micro-entrepreneurs and low-income populations. With 27 years of experience and a dense geographical coverage, Banco de Antigua has established itself as a proximity-based financial institution whose mission is to support clients’ economic development by offering both financial and non-financial services such as training and technical assistance.
The bank plays an active role in promoting financial inclusion in Guatemala by reaching low-income customers outside urban areas. Today, the bank serves more than 146 000 clients, 44% of whom are women and 84% living in rural areas.
This new financing from Proparco will enable Banco de Antigua to expand its microcredit loans offering to underserved micro-entrepreneurs throughout the country, thereby contributing to reducing socioeconomic inequalities in Guatemala.
This new partnership between Banco de Antigua and Proparco will contribute to several sustainable development goals such as SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
For Françoise Lombard, CEO of Proparco: “We are delighted to begin this partnership with a key player in microfinance in Guatemala, Banco de Antigua, and thereby contribute to greater financial inclusion in the country. The institution’s commitment to responsible microfinance aligns closely with Proparco’s strategy, particularly with regard to reducing gender, regional, and economic inequalities.”
“Proparco is proud to partner with Banco de Antigua, with whom we share a common mission to expand access to essential financial services for underserved populations. By enabling access to credit for women and rural populations, we are not only strengthening local economies, but also helping communities build resilience and create opportunities for the next generation.” Manuel Léon, Proparco’s Regional Head for Mexico, Central America and the Caribbean.
“Proparco and Banco de Antigua have successfully concluded their first partnership. Through this alliance, we aim to continue expanding and strengthening our operations in Guatemala, playing a pivotal role in delivering accessible solutions that foster progress in developing markets across the country’s interior regions. This investment reinforces our commitment to advancing and pursuing our vision in a sustainable, transparent, and responsible manner, aligned with our mission to help fulfill the aspirations of Guatemalan families and micro-entrepreneurs through financial inclusion”. Jorge Brun, Chief Executive Officer of Banco de Antigua.