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Suriname to Receive $100 Million in Loans From IDB, China

June 24, 2013 | 7:53 am | Print

Above: Suriname’s National Assembly

By the Caribbean Journal staff

Suriname will be receiving a pair of $50 million loans from the Inter-American Development Bank and the China Co-financing Fund for Latin America and the Caribbean.

The funding is part of a series of loans aimed at supporting the financial sector reform agenda of Suriname’s government. The first such loan was approved in December 2011.

According to the IDB, the programme looks to “facilitate better access to credit and financial services to the public and private firms and mitigate vulnerability to macroeconomic and microeconomic shocks by strengthening the capabilities of Suriname’s Central Bank to supervise financial institutions and enforce regulations meeting international standards.”

The IDB financing portion includes $50 million with a 20-year term, along with $50 million from China’s co-financing fund for Latin America and the Caribbean.

Suriname’s Central Bank is executing the programme.

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