2023-12-27 05:33:16
Fundación Génesis Empresarial is the largest microfinance institution in Guatemala and has strong relationships with other financial development organizations and high-impact investors.
Photo: Citi.
Guatemala. Citi, a financial institution with 49 years of presence in Guatemala, structured a social-commercial loan in local currency to Fundación Génesis Empresarial, a private microfinance institution for development, which provides working capital and financial solutions to promote sustainable growth in communities unattended.
Fundación Génesis Empresarial will use the funds to extend productive credits to low-income people and entrepreneurs who own microbusinesses in Guatemala, with the aim of financing activities linked to the local economy and thus promote inclusive economic growth in the country.
This transaction is aligned with Citi’s Social Finance Framework in the financial inclusion category of access to essential services, and furthers Citi’s commitment to improving access to financial services in emerging economies.
The transaction will place special emphasis on promoting financial inclusion and is aligned with Citi’s goal of supporting 15 million people worldwide (including 10 million women) by 2025.
“Citi Guatemala is committed to the development and social and economic progress of the country. This specific opportunity allows us to channel resources directly to the social development of Guatemala, which we consider a strategic country in the region,” said Julio Álvarez, Executive Director of Citi Guatemala.
“We are an entity with access to development,” added Edgardo Pérez, CEO of Fundación Génesis Empresarial. “We help strengthen micro and small businesses and agricultural activities, providing financial support, training and technology, so that our clients can expand their growth opportunities and generate sustainable income. In this way we are improving the living conditions of Guatemalan families, focusing on women in rural areas of the country,” he concluded.
#Citi #structured #socialcommercial #loan #Fundación #Génesis #Empresarial