CABEI: an additional US$4.0 million available for MIPYMES and businesses in Guatemala

Guatemala City, September 8, 2020.- The Central American Bank for Economic Integration (CABEI), through its Financial Sector Support Facilitation for the Financing of Micro, Small and Medium Enterprises (MIPYME), approved a US$4.0 million disbursement in Guatemala, with the objective of meeting the working capital needs of businesses that have been affected by the pandemic.

These funds are available in the Banco de Desarrollo Rural (BANRURAL) in Guatemala, and will have the purpose of financing destinations such as the payment of obligations (suppliers, leases, payroll) from the date of March 11, 2020, as well as the refinancing, consolidation or readjustment of debts, implementation of biosecurity measures, modification or adaptation of the business model, among other destinations.

MIPYMES operating in the production sectors of the agrifood chain, hotels and tourism, renewable energy, energy efficiency, cleaner production, construction, creative industry, media, commerce and industry, and service provision companies are eligible.

CABEI's Executive President, Dr. Dante Mossi, commented "with the support of the German Financial Cooperation through KfW, the European Union and TaiwanICDF, CABEI makes credit resources available to MIPYMES to finance their working capital needs through the network of financial institutions that operate CABEI resources in the region at terms of up to 5 years and up to 2 years of grace period for payment of capital."

This facilitation is part of the Emergency Program to Support and Prepare for COVID-19 and its Economic Reactivation for up to US$2.36 billion approved by CABEI on March 31, 2020 in response to the impacts of the pandemic and to support this key sector of the economies in the Central American region.