CABEI renews Global Credit Line to FUNDAP for US$15 million
This operation will expand the portfolio of products and services for Guatemalan microenterprises.
City of Guatemala, July 21st, 2020. - The Central American Bank for Economic Integration (CABEI), signed the renewal of the Global Credit Line with the Foundation for the Integral Development of Socioeconomic Programs (FUNDAP) for an amount of US$ 15 million to benefit the financing of micro and small rural enterprises in Guatemala.
The renewal of this line of credit is intended to promote the different lines of financial intermediation that CABEI offers, specifically in the financing of MIPYME with a gender approach, MIPYME entrepreneurship, MIPYME with an agribusiness approach and adaptation to climate change.
FUNDAP is a financial institution that has been an intermediary of CABEI's reimbursable resources for more than 25 years, with differentiated products for microenterprises and the general public. In this way, FUNDAP is an important ally of the BCIE for the placement of resources that promote the financial inclusion allowing to reach beneficiaries located mainly in the rural area of the central highlands, north and southwest of the Republic of Guatemala.
This operation is part of the Bank's 2020-2024 Institutional Strategy and meets the strategic objective of productivity and innovation in the business world by fostering the growth of MIPYMEs and thus the generation of employment and poverty reduction.