The initiative involves the granting of US$10.0 million in non-reimbursable resources provided by MOFA through TaiwanICDF to economically empower women through a guarantee fund that complements the financing provided by CABEI. This will facilitate access to financial resources for women MSMEs and significantly boost their competitiveness, increasing access to financing for their businesses and promoting their participation in the sectors that drive economic recovery.
"Aware of the need to empower women in the countries of the region so that they can overcome barriers in these difficult times, due to the ravages of the COVID-19 pandemic, as CABEI we are supporting this Program that seeks to facilitate financing for women who wish to start a new business, as well as contributing to the economic reactivation of women owners of micro, small and medium-sized enterprises (MSMEs), as well as those MSMEs with majority female partners and equity and MSMEs with more than 50% women employees", said CABEI Executive President, Dr. Dante Mossi.
This Fund will allow MSMEs to bridge the gap in obtaining financing and will contribute to gender equality by increasing the promotion and participation of women within intermediary financial institutions.
All Intermediary Financial Institutions participating in the Facility must have a global line of credit in force with CABEI, in addition to showing interest in promoting financing products for MSMEs.
This fund will also stimulate growth and employment in the private sector, thus promoting the socioeconomic and equitable development of Central America.