CABEI strengthens technical and business skills of 300 rural entrepreneurs in Guatemala through DINAMICA Initiative
Tripartite initiative between CABEI, the Government of Germany and the European Union has benefited microenterprises in sectors such as agriculture, tourism, beekeeping and agribusiness
Guatemala City, Guatemala, May 7, 2021.- A total of ten Guatemalan micro, small, and medium-sized enterprises (MIPYMEs) comprising 297 entrepreneurs were able to strengthen their technical and business skills during 2020, thanks to a US$50,000 grant from the Central American Bank for Economic Integration (CABEI) under the Central American MIPYME Business Idea Development and Acceleration Initiative (DINAMICA).
"With this type of project, the Bank continues to promote rural entrepreneurship in the region, which is key to the insertion of young people and families in productive activities, thus boosting the local economy in territories such as the western highlands of Guatemala. We will continue to strengthen our relationships with our external allies to channel more resources and continue supporting the entrepreneurial ecosystem in the region," said CABEI Executive President, Dr. Dante Mossi.
Since 2016, CABEI, through the DINAMICA Initiative has granted non-reimbursable resources for more than US$600 thousand with the objective of increasing the capacities of Guatemalan entrepreneurial MIPYMEs; this tripartite initiative is executed by CABEI with support from the Government of Germany through KfW and the European Union, through its Latin America Investment Facility (LAIF).
These resources were used to develop market studies, business models and plans, and to provide advisory services to 10 microenterprises located in the departments that make up Guatemala´s western highlands: San Marcos, Quetzaltenango, Sololá, Totonicapán and Huehuetenango.
The Director of Grupo Enlace in Guatemala commented: "We are extremely grateful to CABEI and DINAMICA. The resources provided are undoubtedly bearing fruit; many of the enterprises supported are already operating successfully and now have better profiles for accessing financing.
The business models generated include a transformation component so that entrepreneurs can add value to their products and move up the production chain. Products such as packaged edible mushrooms, granola, honey derivatives, ornamental plants and tourism services are part of these microenterprises´ offerings in rural Guatemala.