The eligible FIs may include:

 BANPAIS is among the five largest banks in Honduras, with a market share of 10% (in terms of total assets as of December 31, 2022). The Bank has over 80 branches and more than 300 other service points to serve clients. BANPAIS is majority owned by Bicapital Corporation, the holding company of BICapital Group and owner of Banco Industrial, the largest bank in Guatemala. Bicapital Group is one of the leading banking groups in Central America, with operations in 5 countries in addition to Honduras. In 2007, Banco Industrial S.A (BI), the largest bank in Guatemala, acquired 90% of the Bank’s shares through BICapital Corporation. The remaining 10% is held by more than 100 private investors. BICapital is a holding incorporated in Panama.

Banco Lafise Honduras has a market share of 2.6% in terms of assets and 2.8% in terms of loans, of the Honduran banking system, as of 2Q23. The bank has traditionally focused on the commercial sector but has been working on expanding its participation in the housing and consumer sectors. The bank is one of Grupo Lafise's banking operations, a financial services group with operations in Central America and the Caribbean region. The Bank’s main subsidiaries are: (i) Latin American Financial Services, holding company of BLCR, representing 14% of LGP’s assets; (ii) Lafise Holdings, which main subsidiary is BLNI, representing 54% of LGP’s assets and (iii) Lafise Investments (Panama), holding company of Banco LAFISE Honduras, representing 16% of LGP’s. Lafise Group is 99% owned by Roberto Zamora Llanes, who also serves as Chairman of the Group’s board. Mr. Roberto Zamora Llanes is a Nicaraguan citizen with businesses in in the agriculture and real estate sectors in Central American and Nicaragua in particular.

Lafise Bancentro is the second largest bank in Nicaragua in terms of assets (market share of 25.5%) and the third largest in terms of net loans (market share of 18.5%), as of September 2023. While the bank is mainly engaged in corporate lending, it also has consumer and mortgage loan portfolios and provides insurance and storage services through its subsidiaries Seguros Lafise and Almacenadora Lafise, which represent a small portion of the bank's asset base. The bank is the largest banking company of Lafise Group, a financial service conglomerate with operations in Central America and the Caribbean.

Banco de la Produccion (Banpro) was founded in 1991. It is the largest bank in Nicaragua and is ranked among the 20 largest banks in Central America. The Bank focuses on corporate lending with a strong participation in the agribusiness sector and is part of Promerica Financial Corporation which has presence in each of the Central American countries plus the Dominican Republic, Cayman Islands and Ecuador. Banpro is a subsidiary of Promerica Financial Corporation (PFC). PFC holds 62.8% of the shares of Tenedora Banpro, S.A., owner of 99.99% of shares of Banpro. The rest of Tenedora Banpro shares are property of Grupo Mercantil R y M (18.0%), an enterprise owned by the Rappaccioli family; and the other 19.2% is held by minority shareholders, none of which has an equity interest larger than 5%. PFC, in turn, is owned by Promerica Holdings Ltd. (98.42%) and Mario Rappaccioli (1.58%). Promerica Holdings Ltd. is fully owned by Ramiro Ortiz, Chairman and CEO of PFC. Mr. Ortiz is the largest UBO with a 61.8% indirect ownership of Banpro.

 The Proposed project consists of up to 2-year senior loans renewable for an additional 2-year up to 4-year to eligible FIs in Honduras and Nicaragua for the total amount of up to US$155 million.

Proceeds of the IFC’s investment will be on-lent to MSMEs throughout Honduras and Nicaragua