PR-L1057 : Vision Banco - Habitat Humanity's Improved Housing Initiative Low-income Family

The project¿s objective is to reduce the qualitative housing deficit of low income primarily micro-entrepreneurs in Paraguay by facilitating access to private sector long term finance for an innovative package of access to credit and technical assistance, specifically for progressive, rehabilitation, expansion and home improvements. In an effort to accomplish this objective, the IDB is proposing to provide a Partial Credit Guarantee (PCG) of up to US$2.5 million; equivalent in Paraguayan Guaranies (PGY), from the OMJ Facility to Vision Banco S.A.E.C.A., a leading commercial bank in Paraguay specialized in microfinance. With the IDB PCG, Vision will be able to borrow US$3 million, equivalent in PGY, from Citibank N.A. Paraguay (the Guaranteed Loan).