Thursday, 10 June 2021 16:20

President of BANDESAL attends Finance Commission to discuss the US$200 million loan

Written by Alondra Gutiérrez

The president of Banco de Desarrollo de El Salvador (BANDESAL), Juan Pablo Durán, explained the Primer Programa de Acceso al Crédito para la Recuperación de la Micro, medianas y pequeñas empresas (MIPYME),which will be financed by the Inter-American Development Bank (IDB) for up to US$200 million.

This project, which seeks to reactivate the economy after the impact of the Covid-19 pandemic, will be financed by the IDB.

The president of BANDESAL said, during his assistances that, with the intermediation rates, the beneficiaries would have credits at a rate of 8 points; however, he clarifies that they cannot impose rates to the intermediary financial institutions.

"It does not matter if your company is a service, commercial or agricultural company, all of them can apply for this financing", said Juan Pablo Durán.

He also mentioned that the maximum amount to be financed is US$1,750 million. At the end of this meeting, the Finance Commission unanimously endorsed the favorable opinion to be submitted tomorrow in the Ordinary Plenary, and BANDESAL is also managing a total of US$300 million, of which the first is US$200 million, and the remaining US$100 million.