The International Finance Corporation (IFC), part of the World Bank Group, and Guatemala’s leading financial institution, Banco Industrial, have announced a landmark USD 850 million transaction aimed at expanding access to credit for micro, small, and medium-sized enterprises (MSMEs) in Guatemala. The financing package combines IFC’s own funds with a bond issuance in international capital markets and will be used to support Banco Industrial’s solutions for MSMEs, with particular emphasis on women-led businesses seeking to invest, modernize, or expand operations.
Luis Lara Grojec, CEO of Banco Industrial, highlighted the bank’s commitment to empowering entrepreneurs through financial services and additional support from Fundación Bi. He emphasized that strengthening local businesses helps retain talent in the country and reduces economic migration. Luis Fernando Prado Ortiz, Head of Corporate and International Banking at Banco Industrial, noted that the transaction represents the bank’s 14th issuance in international markets, underscoring investor confidence in both the institution and Guatemala.
IFC Regional Director for Mexico and Central America, Sanaa Abouzaid, stated that the partnership with Banco Industrial will energize the MSME sector and directly contribute to job creation across the country. MSMEs in Guatemala number nearly 370,000, contributing 40 percent of GDP and 77 percent of employment, yet limited access to credit—especially for women—has constrained their growth and competitiveness.
The transaction, structured under the innovative “C/B Loan” model, includes a USD 100 million subordinated loan from IFC and USD 750 million raised through capital market notes. This is the first global use of a C/B Loan structure for subordinated debt and the largest subordinated debt issuance by a financial institution in Central America, attracting orders exceeding USD 2.8 billion.
Banco Industrial, Guatemala’s largest bank, operates more than 12,300 service points across the country and employs over 11,500 staff. The institution has consistently received international recognition, including being named “Guatemala’s Best Bank” for fifteen consecutive years. Its core principles focus on integrity, innovation, commitment, teamwork, and national development.
IFC, as the largest global development institution focused on the private sector in emerging markets, supports private companies and financial institutions in more than 100 countries. In fiscal year 2025, IFC committed a record USD 71.7 billion to private sector projects, leveraging capital and expertise to create markets, mobilize private investment, and foster sustainable economic development.
