CABEI reaffirms support for Salvadoran MSMEs with new US$10 million disbursement to Banco Hipotecario
San Salvador, January 31, 2022.- The Central American Bank for Economic Integration (CABEI) made a new disbursement of US$10.0 million to Banco Hipotecario de El Salvador (BH) to reaffirm its commitment to support micro, small and medium-sized Salvadoran enterprises in their economic reactivation following the crisis caused by the COVID-19 pandemic.
This financial facility, part of CABEI's Economic Reactivation Program, will safeguard more than 3,000 jobs and keep more than 155 MSMEs in operation.
"For CABEI, strengthening MSMEs is one of our most important objectives because they are what drive the economy. Helping them to remain strong is paramount, especially at this time when the COVID-19 pandemic continues to affect us greatly," said CABEI Executive President, Dr. Dante Mossi.
With this new amount, CABEI has granted US$50.0 million in the framework of the Financial Sector Support Facility for MSMEs affected by COVID-19, which represents 39% of an accumulated total of US$127.0 million already disbursed by the Bank to the Salvadoran financial sector from July 2020 to date, with the objective of continuing to support the sector.
This initiative is framed within CABEI's 2020-2024 Institutional Strategy, within the Sustainable Competitiveness Axis, contributing to the strategic objective of contributing to inclusive economic growth.