Norfund, the Norwegian Investment Fund for developing countries, has committed a USD 10 million senior loan in local currency to Banco de Antigua, a leading Guatemalan microfinance institution dedicated to expanding access to financial services for microentrepreneurs and underserved communities, including the large indigenous population.
“Rural communities face some of the largest barriers in access to finance. With over 80% of its clients in rural areas, 42% of the loans to women and 20% of their clients being introduced to the financial systems for the first time, Banco de Antigua is playing a key role for increased financial inclusion in Guatemala”
Sebastian Leimbach
Project Manager at Norfund
With a diverse portfolio that includes working capital, productive vehicle loans, as well as multi-purpose loans for investing in education and housing improvements, Banco de Antigua empowered more than 144,000 clients, maintaining an average loan size just above USD 2,100 last year.
“With this partnership, we aim to continue growing and operating in Guatemala in a sustainable, transparent, and responsible way. This aligns with our mission to help Guatemalan families and microentrepreneurs achieve their dreams through financial inclusion, by offering accessible solutions that supports development of local economies in the country’s rural regions,” says Jorge Brun, General Manager of Banco de Antigua.
“This investment reinforces our commitment to advancing financial inclusion and catalyzing sustainable economic growth in Guatemala. When microentrepreneurs succeed, they often reinvest in their communities—hiring locally, purchasing supplies nearby, and contributing to local development,” says Leimbach.
In addition, Norfund will collaborate with Banco de Antigua to explore technical assistance projects that enhance financial literacy and support housing improvements for clients of Banco de Antigua. By investing in institutions like Banco de Antigua, Norfund continues its mission to create jobs, reduce inequality, improve financial inclusion and support sustainable private sector development in Latin America.