Development Opec Fund and Dubai bank partner on Paraguay loan By Neil Halligan February 7, 2025, 6:03 PM Alamy via Reuters Gauchos on a cattle farm in Paraguay. Banco Continental lends to SMEs in the country's agricultural sector $50m for Banco Continental Funding for Paraguay SMEs Support for agriculture The Commercial Bank of Dubai has partnered with the Opec Fund for International Development to provide a $50 million syndicated loan to Banco Continental to support lending to small and medium-sized enterprises in Paraguay. The Opec Fund will contribute $25 million from its own resources and Commercial Bank of Dubai will provide a $25 million B loan. The facility will support Banco Continental’s lending to the agricultural sector in Paraguay. Fahad Al Muhairi, general manager for institutional banking at Commercial Bank of Dubai, said that the lender was “committed to advancing sustainable finance while expanding our global footprint”. Opec Fund piles up financing for wheat, wind and water Wealthy Latin Americans more likely to invest in Middle East Opec Fund agrees $50m loan to support Africa’s infrastructure The Opec Fund is a Vienna-based intergovernmental development finance institution established in 1976 by the member states of the Organisation of the Petroleum Exporting Countries (Opec), which include Saudi Arabia, Kuwait and the UAE. It provided close to $1 billion in new development financing in the fourth quarter of last year, benefiting more than 20 countries in Africa, Asia, Central and South America and Europe.
