The Foreign Investment and Trade Bank (BICE) approved the expansion of its funding line to Provincia Leasing with the aim of promote investment by companies and municipalities in Buenos Aires. The new loan amounts to $ 900 million, almost doubling the amount of the leasing company belonging to Grupo Provincia.
The announcement was made at the BICE offices and was attended by its president, José Ignacio de Mendiguren; the director Nicolas Scioli; and the general manager, Gabriel Vienni. For Grupo Provincia, the president of Banco Provincia and Grupo Provincia, Juan Cuattromo; the president of Provincia Leasing, Valeria Dallera; and the vice president of Grupo Provincia, Ariel Lieutier.
“Through a key instrument such as leasing, we deepen our bond with Provincia Leasing with the aim of continuing to support the productive sectors that are leading the economic reconstruction of the country,” said De Mendiguren. “It is an initiative that shows how public banks can synchronize their work to reach those who produce and generate employment in the province of Buenos Aires with more and better financing,” he added.
While Cuattromo considered that “as public entities, we have the responsibility to complement each other and find synergies that allow us to better fulfill our role as development bank. With this expansion we will continue with the strategic policies proposed by the governor of the province of Buenos Aires, Axel Kicillof, which consists of both Banco Provincia and Grupo Provincia working to bring solutions and instruments aimed at the Buenos Aires productive sector ”.
For his part, Lieutier said that “in a year in which all efforts are made for the economy to recover, and in a context of challenges imposed by the COVID-19 pandemic, it is essential to have the support of BICE for that Provincia Leasing can expand its operations, financially assisting both Buenos Aires companies and the municipalities of the Province ”.
In turn, Dallera referred to the role that Provincia Leasing has played since 2020 in the province of Buenos Aires: “We made available to the public and private sectors a tool that was very useful for municipalities and companies during the pandemic, since that we granted financing for more than $ 1080 million to 71 Buenos Aires municipalities and $ 500 million to companies, through 50 operations. Thanks to this new contribution from BICE, we will continue to provide assistance to promote the growth of the province ”.
BICE has been accompanying the development of Provincia Leasing’s business through its second-floor line for 15 years and prior to the approval of the increase, the line amounted to $ 530 million. Today they have more than 150 jointly channeled operations, aimed especially at private sector companies and Buenos Aires municipalities.
#BICE #increases #funding #Provincia #Leasing #million #boost #investments