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The project Development of dynamic micro and small businesses for the economic reactivation of El Salvador, which had a contribution of US$6.6 million from the Republic of Korea, benefited around 27,000 people, directly and indirectly, through initiatives aimed at strengthening entrepreneurship, promoting innovation and improving business capabilities in the country.
The results of this initiative were presented this Wednesday by representatives of the Government, the Korean Embassy, the United Nations Development Program (UNDP) and the Comisión Nacional de la Micro y Pequeña Empresa (CONAMYPE), institutions that participated in the development of the project to promote the growth of small businesses and contribute to economic reactivation.
During the meeting, the ambassador of the Republic of Korea, Kwa Tae Yeol, highlighted that his country contributed US$6.6 million to execute this initiative, in collaboration with CONAMYPE, UNDP and Salvadoran small businesses. The investment was aimed at supporting entrepreneurship, innovation and digital transformation as tools to improve business activity.
The financing made it possible to promote efforts aimed at strengthening business capabilities and generating better conditions for their development. This support sought to ensure that micro and small businesses had greater tools to face market challenges, improve their operations and find new growth opportunities.
The resident representative of the UNDP in El Salvador, Jairo Acuña, expressed his satisfaction with the results achieved and highlighted the importance of measuring the impact of this type of initiatives beyond economic investment. According to him, the return of these efforts is also reflected in the positive changes they can generate in the quality of life of people and their families.
Acuña stressed that the value of the project is related to the benefits received by those who participate in these initiatives, especially when the strengthening of a business represents new economic opportunities for its owners and their family environments.
In the presentation, the president of CONAMYPE, Paul Steiner, reported that around 27,000 people benefited directly and indirectly from the project. The official also described the objectives of the initiative as met and highlighted that its results are not limited to the companies served but include the creation of a work model based on a methodology that he considered successful.
Steiner pointed out that this experience leaves a legacy for the country’s business development, because it allowed us to establish a way of working that can contribute to strengthening future support programs for entrepreneurship and small businesses.
As part of the activity, the head of CONAMYPE gave recognition to the Korean ambassador, Kwa Tae Yeol, in gratitude for that country’s support for the development of Salvadoran entrepreneurship.
The initiative reflects the cooperation between El Salvador, Korea and international organizations to strengthen the micro and small business sector, through investments aimed at developing capabilities, promoting innovation and facilitating digital transformation. The results presented highlight the scope of a project that linked business support with the generation of economic opportunities for thousands of salvadorans.
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