In january 2023, the Inter-American Development Bank approved a loan for El Salvador of US$100 million to support the growth of MSMEs.

"We have just signed a contract that, previously in january of this year, was approved by the Inter-American Development Bank is a program of access to credit for micro, small and medium enterprises", said the minister of Finance.

The official explained that BANDESAL will be in charge of managing the funds and channeling them through different institutions of the financial system and its own credit lines to help salvadoran companies, especially small and micro enterprises.

Zelaya added that MSMEs will be able to access a line of credit with more flexible interest rates that will help them grow their businesses. The financing is for an amount of $100 million, with a term of up to 25 years, including a 5.5-year grace period.

The sectors that could be financed with these loans are: commerce, services, manufacturing, small-scale construction, and agriculture. Natural and legal persons from all sectors of the economy, considered as MSMEs, will be able to access this benefit.

The Central Government continues working to provide the necessary resources to stimulate micro, small and medium-sized enterprises to boost the national economy, with the support of international organizations that contribute to make El Salvador a more competitive country in the region.

Translated by: A.M