Monday, 20 May 2024 20:35

CABEI reaffirms its commitment to El Salvador's MSMEs with more than US$12 million in loans to date

Written by Denis Muñoz

In El Salvador, the Central American Bank for Economic Integration (CABEI) has supported MYPIMES with more than US$12 million in loans; more than 103 micro and small enterprises have been strengthened with non-refundable resources from Small Grants.

CABEI seeks, through various programs and investments, to contribute to the development, growth and productivity of the MSME business sector through 17 Intermediary Credit Programs in Central America, investing in agriculture, housing, trade, education, innovation, energy and infrastructure.

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The institution's most recent disbursements to the country include US$1.4 million from the CAMBio II program to prevent the effects of climate change on agriculture, in addition to US$2.8 million from the Dinámica II program to boost the country's agroindustrial sector.

These lines of credit are yet another effort by CABEI to demonstrate its commitment to support MSMEs and entrepreneurs in both rural and urban areas, as one of the strategic axes of social development and competitiveness with great impact on employment generation and support for poverty reduction.

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Inter-institutional work and the articulation of credit services addressed in a comprehensive manner for the benefit of MSMEs is a fundamental pillar for regional economic growth, prioritizing access to markets through business banking, the creation of efficient productive linkages and joint support between the cooperative sector and multilateral organizations.

CABEI is currently the organization that provides the greatest support to the MSME sector in the Central American region.

 

Translated by: A.M