US EditionBanco do Brasil secures Miga guarantee for trade lending
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Banco do Brasil secures Miga guarantee for trade lending
The World Bank has agreed to guarantee funding to Banco do Brasil, enabling the bank to offer up to US$700mn in trade finance to MSMEs. The Multilateral Investment Guarantee Agency (Miga), an arm of the World Bank, will provide a 95% guarantee on a three-year loan provided to Banco do Brasil by BBVA and HSBC, as lead arrangers. The Miga guarantee covers the risk of Banco do Brasil defaulting. The guarantee will bring down the bank’s cost of f…
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