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IFC Provides $116.5 Million in Financing to BBVA Leasing to Support Small Businesses in Mexico
IFC, a member of the World Bank Group, has provided a $116.5 million long-term financing package to BBVA Leasing Mexico, a leading provider of vehicle and machinery leases.
The transaction will help the company expand its product offerings to small and medium enterprises (SMEs) and is designed to support the economic recovery from the COVID-19 health crisis. The financing package is composed of a $58 million loan from IFC's own account, a $43.5 million loan from the IFC Managed Co-lending Portfolio Program, and a $15 million loan from the Canada-IFC Blended Climate Finance Program. Up to $40 million will be dedicated to leasing “climate-smart” equipment.
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