Montreal (Quebec), 23 September 2025 – Canada’s bilateral Development Finance Institution, FinDev Canada, joins International Finance Corporation, IFC, and Japan International Cooperation Agency, JICA, to announce the signing of a USD 150 million IFC-led syndicated loan facility to Banco del Pais S.A. (or “BANPAIS”), a leading bank supporting commercial and retail clients in Honduras.
FinDev Canada’s USD 50 million loan will help strengthen inclusive and sustainable economic growth by supporting the financing of micro, small, and medium-sized enterprises (MSMEs), women-owned or led MSMEs, and climate finance projects.
MSMEs play a critical role in the Honduran economy, contributing 60% to the GDP. However, they face significant barriers in accessing financing, thereby limiting the country’s economic growth. To strengthen financial inclusion, this transaction will direct at least 35% of the loan proceeds to MSMEs.
Additionally, women entrepreneurs are vital contributors to the Honduran economy. However, they face limited access to financial products and services. In line with the country’s agenda to promote women’s financial inclusion, the transaction will direct at least 30% of the loan proceeds to women-owned or led MSMEs. This transaction also reinforces BANPAIS’ efforts to improve gender-disaggregated data tracking and aligns with the 2X Challenge by exceeding minimum thresholds, particularly in advancing women's representation and leadership opportunities.
Honduras is particularly vulnerable to climate risks, including hurricanes, floods, landslides, extreme heat and droughts, which severely impact its agricultural sector. In line with the country’s Energy Roadmap 2050 and its target to significantly increase renewable energy in the electricity mix by 2038, the transaction will direct 35% of the loan proceeds to climate finance projects, including renewable energy, water, and sanitation. Within its operations, BANPAIS is developing a climate strategy and a green finance framework, and building internal capacity to assess and manage climate-related financial risks.
“Our investment in Banco del Pais reflects FinDev Canada’s commitment to developing local markets and strengthening the capacity of financial institutions. It will expand access to essential financing for climate projects and enterprises, particularly those led by women. Together, with IFC and JICA, we are committed to supporting sustainable development in Honduras – and we look forward to the positive impact this partnership will deliver,” said Lori Kerr, Chief Executive Officer, FinDev Canada.
“We are honored to have been selected as the beneficiary of a USD 150 million syndicated loan facility, which was structured and led by IFC, with the participation of JICA and FinDev Canada. This financing represents a strategic milestone for our institution and for Honduras, enabling us to expand our lending capacity to underserved segments, including small and medium-sized enterprises, women-led businesses, and environmentally sustainable initiatives. This is more than a financial operation; it is a strategic alliance with three of the world’s most respected development finance institutions, and a clear vote of confidence in the strength, vision, and impact of our bank. It enhances our capacity to scale up development-oriented lending and strengthens our balance sheet. It also reflects our partners’ recognition of our sound governance, credit quality, and role as a catalyst for private sector growth,” said María del Rosario Selman Housein, CEO, Banco del País, S.A.
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 Banco del Pais S.A.
BANPAIS, headquartered in San Pedro Sula, Honduras and has over 2,800 employees. It operates as a universal bank and ranks as the fourth-largest institution in terms of loan portfolio nationwide, supported by a network comprising 112 branches, 71 banking counters, 17 drive-through banking units, and 254 ATMs. The bank holds a 13.9 percent market share of net loan placements. As of June 2025, BANPAIS reported deposits totaling USD 2.9 billion, a net loan portfolio of USD 3.4 billion, and total assets amounting to USD 4.6 billion. Since 2007, BANPAIS has been part of BI Capital Corporation, the largest financial group in the region. https://www.banpais.hn
Media Contact
FinDev Canada: Media@findevcanada.ca