2,671 Honduran MSMEs benefited by DINAMICA, a tripartite initiative between CABEI, the European Union, and the KfW
The initiative is being implemented in Guatemala, Honduras, Costa Rica, El Salvador, Nicaragua and Panama, and is aimed at strengthening the MSME sector.
Tegucigalpa, July 29th, 2022.- A total of 2,671 Honduran micro, small and medium-sized enterprises (MSMEs) have been able to strengthen their business ecosystem over the last five years through the tripartite initiative Business Idea Development and Acceleration for Central American MSMEs (DINAMICA for its Spanish definition), implemented by the Central American Bank for Economic Integration (CABEI) with the support of the Government of Germany through the KfW, and the European Union, through its Latin American Investment Facility (LAIF).
During this period, US$8.27 million in financing was granted on preferential terms. In addition, US$539,000 was allocated to provide technical assistance to Development Centers, MSMEs, and Intermediary Financial Institutions (IFIS).
"With the contribution of our strategic allies, we have channeled a total of US$62.4 million in 11,123 loans to MSMEs in Guatemala, Honduras, Costa Rica, El Salvador, Nicaragua and Panama, protecting 21,662 jobs and boosting our region’s economy, which depends so heavily on this sector," said CABEI Executive President Dr. Dante Mossi.
A CABEI delegation recently visited enterprises in western Honduras that have been supported with DINAMICA resources, such as AquaPark and the Campestre El Yate Club, as well as Hotel Villas del Agua Caliente, which have expanded their range of tourism services. Other sectors that have received support include food, industry, and agriculture.