25 thousand jobs in Nicaragua have been preserved with CABEI support
Through the MSME Support Facility, more than 336 Nicaraguan companies have received financing on favorable terms.
Managua, August 6, 2021.- Since the implementation of the Financial Sector Support Facility for MSME Financingin 2020 to the first half of this year, the Central American Bank for Economic Integration (CABEI) has granted around US$60 million in financing to Nicaraguan micro, small and medium-sized enterprises (MSMEs), protecting a total of 25,000 jobs.
Of the funds channeled by CABEI through intermediary financial institutions, US$21.8 million corresponds to the first half of the year and US$37.9 million in 2020, contributing to the adaptation, solvency, and transformation of companies.
CABEI's Executive President, Dr. Dante Mossi, added: "The MSME Support Facility has become an important alternative for this sector of the Nicaraguan economy, since after its implementation in the country we have been able to support more than 336 companies in the trade, agri-food chain production and service provision sectors, among others, with loans.
A large part of the resources directed to MSMEs have been used to access working capital, make payments on obligations, and consolidate and readjust debts.
It is worth noting that at the beginning of 2021 CABEI approved an additional US$300.0 million for the Financial Sector Support Facility for the countries of the region, which represents an additional US$50.0 million for each country, including Nicaragua.