This approval is expected to preserve approximately 16,900 jobs, while also assisting 160 SMEs that employ 2,956 people, 56% of whom are women.

CABEI Executive President, Dr. Dante Mossi, said: "This strategic alliance is very important for CABEI, as it is an opportunity to expand the network of financial institutions through which resources will be channeled to meet the financing needs of salvadoran companies.

Thanks to this financing, Banco CUSCATLAN, in addition to offering more credit options for SMEs affected by COVID-19, will invest in loans focused on energy efficiency as part of its commitment to sustainability. It is estimated that at least 70 companies will apply for these funds to execute projects that have a positive impact on the environment.

In addition, more than 20% of this line of credit is earmarked for Small and Medium-Sized Enterprises with a gender focus and for the promotion of productive sectors within the framework of CABEI's Institutional Strategy 2020-2024, within the Sustainable Competitiveness Axis, contributing to the strategic objective of contributing to inclusive economic growth.

"We recognize the strategic role that SMEs have in the growth of our country's economy and social development. Therefore, with this new line of credit we are promoting their reactivation, their opening to new markets through foreign trade, sustainable investments, the financial inclusion of companies with a gender focus, and encouraging their productivity in general", said José Eduardo Luna, Executive Director of Banco CUSCATLAN.

It is also projected that at least US$10 million will be used to provide working capital to support small and medium-size enterprises in their foreign trade business plans, thus promoting the diversification of trade opportunities and enabling more SMEs to take advantage of the opportunities that the Central American and international markets in general offer to salvadoran exporters.

This will promote the diversification of trade opportunities and enable more SMEs to take advantage of the opportunities that the Central American and international markets in general offer for salvadoran exports.