Alliance between CABEI and the Ficohsa Financial Group will provide financing to the Guatemalan business sector

[Translate to English:]
[Translate to English:]

A new US$15 million credit line is expected to boost job creation and economic dynamism in key sectors of the country.

Guatemala City, August 1st, 2023.- To promote regional competitiveness and foster job creation, the Central American Bank for Economic Integration (CABEI) and the Ficohsa Financial Group in Guatemala signed a US$15 million credit line.

The alliance between the two institutions will make it possible to channel resources to companies engaged in foreign trade activities, thus facilitating the import and export of products. It will also provide working capital loans to small and medium-size enterprises (SMEs) to promote their sustainable growth and participation in the domestic and international markets.

"We are pleased to formalize this line of financing with Banco Ficohsa, which will allow us to provide effective and timely financial products to meet the capital needs of SMEs and importing and exporting companies, important players in the country’s economic revitalization”, said CABEI Director for Guatemala, Pedro Brolo Vila.

The CEO of the Ficohsa Financial Group in Guatemala, Juan Miró, said "We are very pleased to formalize the line with CABEI, we have very good conditions, especially the program to support MSMEs for economic reactivation".

This operation is framed within CABEI's 2020-2024 Institutional Strategy, in its strategic Sustainable Competitiveness and Human Development axes, given the mobilization of resources for the generation of income and investment towards strategic sectors of the economy.

CABEI reaffirms its commitment to promote initiatives aimed at strengthening entrepreneurship in the region, promoting economic growth through financial intermediation.