NEW YORK – Jan. 6, 2022 – Global law firm Greenberg Traurig, LLP represented Banco CUSCATLAN, a Salvadorean bank, in the negotiation of a $30 million loan that will be used to support small- and medium-sized businesses in El Salvador.
The lender is Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), which promotes sustainable economic, social, and environmental development in Africa, Asia, Latin America, and the Middle East.
“This loan will allow Banco CUSCATLAN to carry out its corporate mission to provide financing to help small and medium-sized women-owned businesses grow,” said Oscar Stephens, a Latin America Practice shareholder based in Greenberg Traurig’s New York office who led the firm’s team in the transaction. “Aiding their development strengthens the leadership position of women in the Salvadorean economy and contributes to the social progress of the entire country.”
In a press release, Proparco said the loan facility supports the United Nation’s Sustainable Development Goal #8 – to promote sustained, inclusive, and sustainable economic growth, productive employment, and decent work for all – and the 2XChallenge, an initiative of 18 development finance institutions such as Proparco to mobilize $15 billion by the end of 2022 to support the economic role of women in emerging and developing countries.
Other Greenberg Traurig team members on the transaction included Tax Practice Shareholder Erez Tucner and Associate Mirae Park, both based the firm’s in New York office.
About Greenberg Traurig’s Latin America Practice: Greenberg Traurig’s award-winning Latin America Practice draws on resources from our offices around the world, bringing together a multidisciplinary team of lawyers to help clients identify business opportunities in Latin America. The team, which includes lawyers who have been chief legal officers at major multinational companies, has wide-ranging experience representing U.S. and international clients who do business in Latin America, as well as advising Latin American clients on their business ventures in the United States. The firm’s experience throughout the region enables the team to offer clients local knowledge and resources in the legal aspects of market opportunities, investments, financing, access to capital markets, governmental strategies, or international dispute resolution.
About Greenberg Traurig: Greenberg Traurig, LLP (GT) has approximately 2,300 attorneys in 40 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 25 on the Am Law Global 100. The firm is net carbon neutral with respect to its office energy usage and Mansfield Rule 4.0 Certified Plus. Web: www.gtlaw.com