1.2 million Central Americans have historically benefited from CABEI's MIPYMES support programs
• In commemoration of International MIPYMES Day, CABEI highlights the amount of US$2.956 billion in financing to improve competitiveness in this sector.
Tegucigalpa, June 25, 2021.- Redoubling its commitment as the region's effective and timely financial intermediary, the Central American Bank for Economic Integration (CABEI) commemorates International Micro, Small and Medium Enterprise (MIPYMES) Day with historic financing totaling US$2.956 billion to benefit this sector's competitiveness and productivity.
This figure translates into 720,000 loans channeled through CABEI's network of allied intermediary financial institutions, which have had a positive impact on 1.2 million Central Americans, 56% of whom are women.
"We commemorate this day recognizing the work of MIPYMES as one of the main sources of dynamization of the economy of our region. Of the 1.3 million existing companies, 99% are MIPYMES and generate 45% of the sources of employment, which is why our commitment to support them has been historic and now more than ever in the current economic situation," said CABEI Executive President, Dr. Dante Mossi.
These resources have also been channeled by CABEI through various financial intermediation programs aimed at generating new enterprises, supporting MIPYMES for renewable energy generation projects, energy efficiency, cleaner production, women's entrepreneurship, agribusiness, among other sectors.
In addition, in 2020, in response to the crisis generated by COVID-19, CABEI created the Financial Sector Support Facility for the Financing of MIPYMES, which aims to contribute to the adaptation, solvency and transformation of the sector as part of the economic reactivation.
This facility offers lower rates than conventional ones, with ample grace periods and the possibility of accessing a Guarantee Fund in the event that applicants do not have assets to back up their loans, always through the financial institution.
The financial resources, as well as the non-reimbursable technical assistance provided to the MIPYMES sector, have been supported by CABEI's strategic allies, such as the German Government through KfW, the European Union and Taiwan's ICDF, among others.
