Tuesday, 28 June 2022 02:40

CABEI celebrates MSMEs on their day by supporting them in the protection of more than 76 thousand jobs in the region

Written by Evelyn Alas

99% of the almost 1.6 million companies operating in the region are MSMEs; 83% are micro and 16% are small and medium-sized enterprises. This important sector represents more than 65% of the economically active population, and this is the main source of employment generation in the region, according to the Economic Impact of the COVID-19 pandemic on MSMEs in Central America report by the Centro Regional de Promoción de la MIPYME (CENPROMYPE).

The Central American Bank for Economic Integration (CABEI) commemorates it by becoming its main financial support during the pandemic and its economic recovery in the last two years, a period in which the multilateral organization managed to protect 76,542 jobs through the implementation of its Financial Sector Support Facility for the Financing of MSMEs.

"We are very pleased to know that CABEI has become the key financial ally of thousands of small entrepreneurs who were economically devastated by the COVID-19 pandemic, helping them to maintain their productive activities , something we continue to do and will continue to do. Proof of this is that, as part of the approvals made from 2020 to date, financing has been granted to 5,328 MSMEs in the region", said CABEI Executive President Dante Mossi.