PROMITUR a regional initiative to streamline Central America’s tourism integration

Isla de San Pedro, Belize, October 17, 2018.- With the aim of promoting the competitiveness and sustainability of the tourism sector by providing access to credit to tourism MSMEs, the Central American Bank for Economic Integration (CABEI) launches the Regional Competitiveness and Sustainability Program for Tourism MSMEs (PROMITUR).

During the CIX Regular Meeting of the Central American Tourism Council (CCT), the Ministers of Tourism of the countries of the Central American Integration System announced the official launch of PROMITUR and congratulated CABEI for promoting a regional program that meets the financing needs of MSMEs in the tourism sector.

At the meeting, representatives of CABEI highlighted the characteristics of the Program and the Bank's commitment to promote regional initiatives that meet the demands and priorities established in the regional SICA agenda.

The program is intended to meet the credit needs of the tourism sector with adequate conditions; provide specialized technical assistance to tourism MSMEs; and promote innovative ventures in the development of tourism products through the use of adequate technologies and knowledge.

PROMITUR has an availability of US$10 million in financing, which will be granted through intermediary financial institutions that meet the eligibility requirements established by CABEI. The program falls in the framework of the actions of the Strategic Sustainable Tourism Development Plan for Central America (PEDTS) and will be an effective tool in the SICA countries to further the Central American tourism integration process.

With this action, CABEI demonstrates its support for promoting the tourism sector through joint work between governments of the SICA region, private sector, associations, cooperatives or associations related to tourism MSMEs.
It is important to highlight that through its different financial intermediation programs, CABEI has been contributing to the tourism sector with a disbursed amount of US$34.4 million over the last 20 years (1997-2017).