The project is also supported by the Agencia de El Salvador para la Cooperación Internacional (AgenciaEsco), the Ministry of Tourism and the Korea International Cooperation Agency (KOICA).

The event highlighted that a total of 114 micro and small enterprises (MSEs) were strengthened, 66 are led by women and 48 by men, from the departments of Sonsonate, Santa Ana, Ahuachapán, La Libertad, San Salvador, Cuscatlán, La Paz, Usulután, San Miguel, Morazán, and La Unión.

“In the first call, we gave 54% of the graduates non-refundable funds for US$484,000, who have invoiced US$486,000 in their first quarter of operation, despite being the most difficult first months for the companies”, said CONAMYPE President, Paul Steiner.

He also assured that for every dollar that the KOICA Project has granted, the MSEs are returning US$4, which allows a great change in the companies.

This event allows boosting the growth of MSEs in the country, providing them with the necessary tools and knowledge to evolve from subsistence to accumulation and achieve business success.

 “This achievement is the result of active cooperation between the governments of El Salvador and Korea since the beginning of this project we have seen the potential of entrepreneurs. Today we celebrate the strengthening of more than 100 entrepreneurial initiatives”, said KOICA Director, Sohui Cho.

Translated by: A.M