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Article: OVERSEAS PRIVATE INVESTMENT CORPORATION PROVIDES $10 MILLION FOR LOW-INCOME MORTGAGES IN NICARAGUA

Article from:
US Fed News Service, Including US State News
Article date:
May 14, 2007
Copyright

The U.S. Embassy issued the following press release:

Robert Mosbacher, Jr., President and CEO of the Overseas Private Investment Corporation (OPIC), today signed a loan agreement providing $10 million in OPIC financing to a leading bank in Nicaragua. This loan will enable the bank to expand mortgage lending to low-income borrowers, a segment of the Nicaraguan population that has traditionally lacked access to bank financing.

The OPIC loan will enable Banco de Credito Centroamericano (Bancentro) to expand its mortgage financing operations to underwrite a portfolio of 20-year residential mortgage loans for low-income borrowers. With the OPIC loan, Bancentro will become the first provider of ...

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