Photo provided by Opmeer Reports
Montreal (Quebec), 6 October 2025 – Canada’s bilateral Development Finance Institution, FinDev Canada, the Dutch Entrepreneurial Development Bank, FMO, Japan International Cooperation Agency, JICA, and a subsidiary of Agence Française de Développement, Proparco, announce the signing of a USD 370 million syndicated loan facility to Sudameris Bank S.A.E.C.A. (or “Sudameris Bank”), the second-largest commercial bank in Paraguay. The loan is FinDev Canada's first transaction with a Paraguayan financial institution.
The FMO-led facility will support Sudameris Bank’s strategic expansion in green finance and small and medium-sized enterprise (SME) lending, particularly in the agricultural sector and its value chains. It also aims to enhance financial inclusion by enabling loans to underserved segments, including women-owned SMEs, as well as those in rural areas. A significant portion of the proceeds will be allocated to climate-related projects, such as sustainable agriculture, renewable energy, energy efficiency, green buildings, and investments in the emerging forestry sector, reinforcing Sudameris Bank’s pioneering role in sustainable finance.
FinDev Canada’s USD 55 million contribution will be entirely directed to climate finance, improving access to finance for mitigation and adaptation projects. Additionally, the loan is aligned with the country’s climate adaptation objective to reduce greenhouse gas emissions by 10% by 2030.
Paraguay is highly vulnerable to climate change due to its reliance on agriculture and hydroelectric power. The increasing frequency of extreme weather events, such as droughts, floods, heatwaves, and wildfires, can significantly impact water quality and availability, disrupt agricultural production, and hinder power generation. FinDev Canada’s commitment will contribute to ongoing efforts to promote climate action and sustainable economic growth.
Sudameris Bank has a strong footprint across the country through its extensive branch network and digital platforms. It has been a pioneer in structured finance in Paraguay, representing the first to introduce project finance and leasing solutions. Its strategic focus includes digital transformation, customer-centric innovation, and support for key economic sectors.
In recent years, Paraguay has seen a significant development of projects in diverse sectors, including pulp and forestry, cotton, hydrogen, and solar PV. These, together with the continuous development of traditional sectors, including agriculture, livestock and their value chains, make the need for quality, long-term financing.
“FinDev Canada is committed to expanding its market presence in Latin America – and we are pleased to do so by supporting Sudameris Bank. We’re proud to strengthen our partnership with FMO, JICA, and Proparco to advance sustainable and inclusive development in Paraguay. Through our joint effort, we can improve climate action, develop the local economy, and generate long-term impact,” said Lori Kerr, Chief Executive Officer, FinDev Canada.
“Partnering with FinDev Canada through a syndicated loan led by FMO represents a strategic milestone for Sudameris Bank, unlocking new collaborative opportunities and opening doors to the world so that more institutions can discover Paraguay and its potential. This syndicated transaction will provide Sudameris with the amount and tenor needed to solidify its support to Paraguay’s development as the Bank remains the market leader in financing new economic sector in the country,” said Sebastien Lahaie, Vice President of the Board of Directors, Sudameris.
About FinDev Canada
FinDev Canada is Canada’s bilateral Development Finance Institution (DFI), supporting development through the private sector. We provide financing, investment, and blended finance solutions, as well as technical assistance and advisory, to promote sustainable and inclusive growth in emerging markets and developing economies (EMDEs), in alignment with the Sustainable Development Goals (SDGs) and Paris Agreement commitments. Find out more about FinDev Canada at www.findevcanada.ca.
About Sudameris Bank
Sudameris Bank, headquartered in Asunción, Paraguay, is the leading bank in lending to the country's productive sector, providing a wide range of banking services to Individuals, Corporate and SME segments. It is a leader in structuring local syndicated loans for investment and expansion projects in key industries, reinforcing its position as a solid, dynamic financial institution committed to Paraguay's growth.
Media Contact
FinDev Canada: Media@findevcanada.ca
Photo courtesy of FMO, taken at 2025 Future of Finance conference.
