A. M. With the goal of promoting sustainable and inclusive economic development, the deputies of the Legislative Assembly of El Salvador approved the country’s accession to the fourth Convenio Constitutivo y de Administración del Fondo Multilateral de Inversiones IV (FOMIN), administered by the Inter-American Development Bank (IDB).
This decision represents a strategic commitment by the salvadoran government, which will contribute US$2.7 million to the fund as a key investment to strengthen the private sector.
Marlon Omar Herrera Hernández, Director General of Investment and Public Credit at the Ministry of Finance, explained that the MIF is an autonomous fund that accelerates economic development through donations and investments focused on Latin America and the Caribbean. El Salvador’s participation in this new fund will provide access to resources for projects that promote innovation, entrepreneurship, technology, and job training, especially among young people and women.
The official explained that, in the three previous MIF grants, the country invested a total of US$5 million, receiving US$132 million in return from investments aimed at strengthening the private sector. These investments have financed projects related to security, the use of artificial intelligence in businesses, and the promotion of small and medium-sized productive initiatives.
With this new addition, El Salvador strengthens its commitment to financing tools that incentivize job creation, business formalization, and the attraction of foreign investment. Furthermore, the fund includes mechanisms such as loans, guarantees, equity investments, or combinations of these options, expanding the possibilities for intervention in different economic sectors.
The IDB will manage these funds with the mission of closing structural and social gaps through public-private partnerships, strengthening the national business ecosystem.
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