Norfund grants US$10,000,000.00 credit to Fedecrédito 

June 6, 2017

Norfund is an active, strategic minority investor; is the main instrument of the Norwegian governments for combating poverty through private sector development. Their main objective is to contribute to sustainable commercial businesses in developing countries; funding is provided via capital allocations from Norfund’s development assistance budget. Norfund provides equity, other risk capital, and loans to companies in selected countries and sectors where businesses are in promising development.  The sectors in which Norfund invests are clean energy, financial institutions and agribusiness, in addition to small and medium sized companies. 

Romero Pineda advised Norfund in a credit facility to be provided to FEDECRÉDITO, which is a cooperative society whose objective is to promote the development of an efficient, solvent and competitive System of Cajas de Crédito y Bancos de los Trabajadores, dedicated to the provision of financial services in urban and rural areas, mainly to families of low and middle income and micro, small and medium enterprises of different economic sectors, as well as public, municipal and private workers. 

Romero Pineda considers this a very important transaction, since the funds that NORFUND provides to FEDECRÉDITO are going to be directed to a growing sector in our society, and people that usually do not have access to good credit conditions, but with NORFUNDS participation this types of credits will bring development and growth to micro, small and medium enterprises.