35,508 jobs preserved in Nicaragua with the implementation of CABEI's MSME Support Facility
Through this initiative, 777 sub loans were granted in 2021 for a total of 517 companies in the trade, hotel and tourism, agri-food chain production, construction and infrastructure, and creative industries, among other activities.
Managua, January 27, 2022.- The Financial Sector Support Facility for the Financing of micro, small and medium-sized enterprises (MSMEs) promoted by the Central American Bank for Economic Integration (CABEI) has had positive results in Nicaragua, where 35,508 jobs are currently protected, of which 2,065 have been rehired.
During the past year, the Bank's founding partner country has channeled US$70.9 million in resources through its allied intermediary financial institutions, granting a total of 777 loans in 2021 to 517 companies.
"We are thrilled to achieve the proposed objective of this initiative: to support MSMEs. In the case of Nicaragua, the resources have been very useful in enabling them to access more working capital, pay their obligations and consolidate and readjust their debts," explained CABEI President Dr. Dante Mossi.
Through this support, the multilateral contributes to the adaptation, solvency and transformation of integrated companies in sectors such as trade, agri-food chain production, construction and infrastructure, creative industries, service providers, transportation and storage, manufacturing and other sectors affected by COVID-19.
A noteworthy fact is that at the regional level, CABEI has managed to protect more than 60,000 jobs, of which 6,588 are re-hiring of people who had been dismissed at the beginning of the pandemic.