Guatemala City, September 22, 2025 – The International Finance Corporation (IFC), the Japan International Cooperation Agency (JICA), and FinDev Canada announced a USD 415 million investment in Banco Industrial, S.A., the leading financial institution in Guatemala. The project seeks to advance green finance, expand access to sustainable housing loans, and strengthen support to small and medium-sized enterprises (SMEs) in the Central American country.
Structured and led by IFC, the financing package—comprising USD 190 million from IFC, USD 150 million from JICA, and USD 75 million from FinDev Canada—will enable Banco Industrial to comprehensively address various development challenges. First, it will support sustainable initiatives, including green buildings and climate-smart agriculture projects. Additionally, it will help reduce Guatemala’s housing deficit, with a focus on the “silver economy” (people over 50 years old). Lastly, the financing will also support Guatemalan SMEs, particularly those led by women.
“The closing of this financing operation represents enormous opportunities for hundreds of businesses and entrepreneurs, to whom we will channel these funds to make their dreams come true and, at the same time, support the development of our country. Guatemala has unique conditions: a solid and stable macroeconomy, strategic location, committed and dynamic business sector, young and hardworking population, and a rich cultural and natural heritage that distinguishes us in the region. All of this makes our country a place full of opportunities to invest, grow, and prosper,” said Luis Fernando Prado Ortiz, Corporate & International Banking Division Manager at Banco Industrial. “Throughout its 57-year history, Banco Industrial has supported Guatemala’s development. But this effort would not be possible without strategic allies and partners like IFC, JICA, and FinDev Canada. We deeply value the trust and commitment of these three development institutions. Thanks to these resources, we will be able to finance companies and projects that will generate thousands of jobs, creating a very positive impact on our economy.”
“We are proud to strengthen our strategic alliance with Banco Industrial in Guatemala,” said Vittorio Di Bello, Director of the Financial Institutions Group for Latin America and the Caribbean at IFC, part of the World Bank Group. “With the support of JICA and FinDev Canada, this effort will improve climate resilience, enhance SME competitiveness, address housing needs, and ultimately expand both the quantity and quality of employment in the country.”
According to Ken Kubokura, Chief Representative of JICA Guatemala Office, “SMEs play a vital role in the economies of countries, particularly because they promote the creation of domestic employment, contribute to poverty reduction, and support economic growth and transformation. This initiative aims to strengthen financial access for SMEs in Guatemala with a gender-focused approach in order to support the growth of private enterprises. Furthermore, it complements JICA's technical cooperation initiatives in the country, which aim to address the root causes of irregular migration and contribute to sustainable socioeconomic development.”
“We’re proud to partner with IFC and JICA to help Banco Industrial strengthen its capacity to offer sustainable products in a country on the frontlines of climate change. This partnership reflects our shared commitment to support long-term development and amplify impact across Guatemala. Together, we’re advancing climate action, strengthening enterprises, developing local markets, and supporting quality jobs across Central America,” said Paulo Martelli, VP and Chief Investment Officer, FinDev Canada.
The World Bank ranks Guatemala as one of the countries most affected by extreme weather events, such as floods, hurricanes, and earthquakes. These phenomena exacerbate challenges for farmers, making it a priority to adapt practices and infrastructure with a resilience-focused approach. At the same time, transitioning to greener technologies in building construction and operations, as well as material production, presents opportunities to reduce greenhouse gas emissions.
Guatemala faces a significant housing deficit due to the housing sector's inability to keep pace with rapid urbanization. To address this gap, increased financial support is needed to scale up both new housing construction and mortgage financing options. There are approximately 3.3 million households in the country, of which around 2.2 million (about 76%) lack access to quality housing.
The country has around 370,000 SMEs, which account for 40% of GDP and 77% of total employment. However, limited credit availability—disproportionately affecting women—hinders their competitiveness and growth.
The relationship between IFC and Banco Industrial, Guatemala’s largest banking group, began in 2006. Since then, the World Bank Group’s private sector arm has supported Banco Industrial through investments in various products and segments, such as gender-focused loans, MSMEs, and climate finance.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About Banco Industrial
Banco Industrial continues to establish itself as one of the most important financial institutions in Central America and the largest in Guatemala. It holds internationally recognized ratings granted by the three leading global credit rating agencies: S&P, Moody’s, and Fitch. Thanks to the commitment and efforts of a team of more than 11,300 employees, as of June 2025, Banco Industrial was awarded, for the fourteenth consecutive year, the title of “Best Bank in Guatemala” by the prestigious financial magazine The Banker. This recognition has also been validated by other prominent international financial publications such as Euromoney, Global Finance, and Latin Finance. Currently, the institution has an extensive service network in Guatemala, consisting of more than 11,500 service points, including branches and mini-branches, banking agents, proprietary ATMs, and access to ATMs from other networks. The core principles that define Banco Industrial are integrity, innovation, commitment, teamwork, and love for the homeland. For more information, visit https://www.corporacionbi.com/gt/bancoindustrial/.
About JICA
JICA, an incorporated administrative agency in charge of administering Japan’s Official Development Assistance (ODA), is one of the world’s largest bilateral cooperation agencies. JICA aims to contribute to the promotion of international cooperation as well as the sound development of Japanese and global economy by supporting the socioeconomic development, recovery or economic stability of developing countries. JICA provides bilateral cooperation through Technical Cooperation, Grant Aid, and ODA Loans, including Private Sector Investment Finance (PSIF), in an integrated manner. Through partnerships with various stakeholders, including private companies, financial institutions, and development finance institutions, PSIF is generating tangible development impact around the world, including promoting financial inclusion, advancing gender equality, and fostering sustainable economic growth in the partner countries. To learn more, please visit: https://www.jica.go.jp/english/index.html
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.
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