BBVA and Caja de Ahorros formalise $300 million financing agreement to boost Panama’s economy

The transaction, backed by multilateral organisations, reinforces both institutions’ commitment to sustainable growth, technological transformation, and the strengthening of small and medium-sized enterprises (SMEs) in the country.

BBVA and Caja de Ahorros have signed a $300 million financing agreement aimed at stimulating key productive sectors in Panama. This strategic partnership forms part of a joint commitment to support the sustainable development of the national economy and accelerate the country’s technological transformation.

The funds will be allocated to facilitate credit lines for small and medium-sized enterprises (SMEs), support climate finance projects, drive ESG (environmental, social and governance) initiatives, and promote innovative proposals linked to the development and implementation of new technologies in the region. The agreement reaffirms BBVA’s commitment to Panama’s economic growth—support that has remained steadfast even in times of heightened volatility, reflecting a long-term vision for the country.

“At Caja de Ahorros, we firmly believe in the transformative power of small and medium-sized enterprises to drive Panama’s economic growth. This alliance with BBVA strengthens our commitment to modernising the financial system, enhancing access to credit for SMEs, and promoting technological projects that will position the country at the forefront of financial innovation. Together, we are advancing towards a more inclusive, sustainable banking model, prepared to meet the challenges of the future. In the coming days, we will be announcing an extraordinary partnership with the private sector that will ensure part of these funds reach local entrepreneurs directly,” said Andrés Farrugia, General Manager of Caja de Ahorros.

Javier Rodríguez Soler, Global Head of Sustainability and Corporate & Investment Banking (CIB), highlighted the significance of this alliance: “This transaction reflects BBVA’s role as a driver of change and strengthens our strategic relationship with Caja de Ahorros. We share a forward-looking vision grounded in innovation, sustainability, and a commitment to Panama’s development. Together, we are incorporating the highest sustainability standards, with a practical approach tailored to the real needs of the environment. Our objective is clear: to provide financial solutions that promote productive transformation, foster equity, and contribute to a more sustainable and resilient panamanian economy.”

The financial operation aligns with the Sustainable Development Goals (SDGs) and reinforces the principles of responsible governance, promoting a financial model that fosters economic growth without leaving anyone behind and that respects the environment.

Through this alliance, BBVA and Caja de Ahorros are solidifying their shared vision for a more prosperous and sustainable Panama. Together, they are laying the foundation for an economic transformation that benefits SMEs, fosters innovation, and strengthens the country’s productive fabric—ensuring a lasting, positive impact on Panamanian society.