Bancoldex to boost micro and SME lending by 16%


Colombia's state-owned export development bank Banco de Comercio Exterior de Colombia (Bancóldex) aims to boost lending to small- and medium-sized enterprises (SMEs) and micro enterprises by 16% this year, Bancóldex president Gustavo Ardila Latiff announced. Bancóldex plans to channel pesos 1.1tn (US$471m) to micro enterprises and SMEs in 2005 compared to 948bn pesos last year, Ardila said. The bank will also increase the share of SME loans as a percentage of total loans to at least 50% this year compared to 40% in 2004.  Expanding SME financing has been a priority for the administration of Colombian President Álvaro Uribe, the country's deputy minister of business development Carlos Alberto Zarruk told. Government-run entities like Bancóldex are leading the way in pushing financing to SMEs and micro enterprises, Zarruk said.


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