CABEI backs Nicaraguan producers and ranchers with approval of new line of credit to COOCARUR
A total of 15 MSMEs in the department of Chontales are expected to benefit from access to financing on favorable terms.
Managua, November 18, 2021.- As part of its efforts to support micro, medium, and small enterprises (MSMEs) in Nicaragua's production and livestock sectors, the Central American Bank for Economic Integration (CABEI) approved a US$100,000 line of credit to the Caja Rural Regional R.L. Savings and Loan Cooperative (Cooperativa de Ahorro y Crédito Caja Rural Regional R.L., or COOCARUR). (COOCARUR).
This financing will have a positive impact on 15 MSMEs in the department of Chontales engaged in productive and agricultural activities. Likewise, with the channeling of these resources, the businesses will be able to invest in the improvement of their farms, the commercialization of meat and dairy products, and the fattening of calves and heifers.
"The productive sector plays a very important role in Nicaragua, and we are confident that the businesses to be benefited will strengthen their operations and daily activities through these new resources on favorable terms," said CABEI Executive President Dr. Dante Mossi.
For her part, the COOCARUR manager, Blanca Suárez González, mentioned: "since 2004 CABEI has been our best ally, it has offered us a helping hand in difficult times and today more than ever we feel it is close, since the producers who will receive financing will have a favorable interest rate, that is, the lowest we have ever obtained".
This new line of credit is part of the support facility for MSMEs affected by COVID-19, implemented in all the countries of the region with the aim of contributing to the adaptation, solvency and transformation of MSMEs for their economic reactivation in the face of the effects of the pandemic. In Nicaragua, in the last year and a half, US$66.8 million has been channeled to 498 companies, contributing to the preservation and recovery of 28,557 jobs.