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IDB approves loan worth $100 million for Paraguay

(Reuters) - The Inter-American Development Bank (IDB) has approved a loan worth $100 million to Paraguay to help the country improve its logistics performance and commercial integration, it said in a statement.

According to the statement, dated Jan. 29 but published on Saturday, the 20-year loan will have an SOFR interest rate and will especially benefit micro, small and medium-sized businesses in the country.

The credit approved by the IDB will support policy reforms and is the first in a series of two consecutive loans technically linked to each other, although financed independently, the statement added.

"This program will support reforms to strengthen logistics management and institutions facilitating trade, boost sustainable investment in logistics infrastructure and services, expand businesses' access to international markets, and promote foreign direct investment," it said.

(Reporting by Oliver Griffin; Editing by Andrea Ricci)