OPEC Fund Secures $50M Loan for Banco Continental to Boost SMEs and Agriculture in Paraguay

The OPEC Fund contributed $25 million from its own resources as the A-lender and mobilized an additional $25 million B-loan from the Commercial Bank of Dubai (CBD).

The OPEC Fund for International Development (OPEC Fund) has successfully arranged a $50 million syndicated loan facility to support Banco Continental in Paraguay, furthering economic development and food security in the region. The OPEC Fund contributed $25 million from its own resources as the A-lender and mobilized an additional $25 million B-loan from the Commercial Bank of Dubai (CBD). Acting as the sole Bookrunner, Mandated Lead Arranger, and Facility Agent, the OPEC Fund orchestrated the deal to strengthen Paraguay’s small and medium-sized enterprises (SMEs) and agricultural sector.

Driving Economic Growth and Food Security

The funding will enable Banco Continental to expand its lending activities to SMEs and enhance agricultural initiatives across Paraguay. This move aims to stimulate economic growth, increase productivity, and reinforce food security in the country. By focusing on these critical sectors, the OPEC Fund and its partners are fostering sustainable development and supporting Paraguay’s broader economic goals.

Milestone Achievement in International Development Finance

This successful syndication marks a significant milestone for the OPEC Fund in mobilizing financing to meet the development needs of partner countries. The participation of CBD—one of the UAE’s largest banks and an OPEC Fund member country—represents its first operation in Paraguay, showcasing the strength of cross-border financial collaboration.

Statements from Key Leaders

OPEC Fund President Abdulhamid Alkhalifa highlighted the importance of this initiative, stating: “This syndication reflects the OPEC Fund’s ability to mobilize resources for impactful development and create opportunities for economic growth. By partnering with CBD and Banco Continental, we are channeling resources from our member country UAE to initiatives that directly support SMEs and the agricultural sector—key pillars of sustainable growth and food security in Paraguay. This transaction also demonstrates the strength of cross-border collaboration in addressing global development needs.”

Banco Continental CEO Juan Carlos Carranza expressed pride in the collaboration, saying: “We are proud to have successfully completed this transaction with the OPEC Fund and Commercial Bank of Dubai. At Continental, we are leaders in providing financial assistance to the most productive sectors of Paraguay with a strategic vision and social inclusion, meeting the various needs of our clients. Recently, with the investment-grade rating, we have strengthened our ability to offer innovative, solid, and competitive solutions, contributing to the economic development of the country and consolidating our market position.”

Fahad Al Muhairi, General Manager for Institutional Banking at Commercial Bank of Dubai, emphasized CBD’s commitment to sustainable finance: “We are pleased to partner with the OPEC Fund to participate in this facility. At CBD, we are committed to advancing sustainable finance while expanding our global footprint. Our partnership with the OPEC Fund exemplifies our strategy to collaborate with leading international institutions to support economic growth in emerging markets and underscores our commitment to building strategic alliances that drive responsible banking.”

About the OPEC Fund for International Development

The OPEC Fund is a development finance institution established by the member countries of the Organization of the Petroleum Exporting Countries (OPEC) to provide financial support to developing countries. The Fund focuses on projects that promote economic growth and social progress, contributing to sustainable development worldwide.

About Banco Continental

Banco Continental is one of Paraguay’s leading financial institutions, recognized for its commitment to supporting the country’s most productive sectors. With a strong focus on innovation, strategic growth, and social inclusion, Banco Continental continues to play a pivotal role in Paraguay’s economic development.

About Commercial Bank of Dubai

Commercial Bank of Dubai (CBD) is one of the largest banks in the UAE, offering a wide range of financial products and services. Committed to sustainable finance and global expansion, CBD partners with international institutions to support economic growth in emerging markets and drive responsible banking practices.