CABEI contributes to the promotion of innovation and entrepreneurship

31/05/2018
El BCIE participar en el 2do. Encuentro Regional de Centros de Atención MIPYME, con una conferencia donde se presentaron los resultados de la Iniciativa DINAMICA destinada a la innovación y el emprendimiento.
El BCIE participar en el 2do. Encuentro Regional de Centros de Atención MIPYME, con una conferencia donde se presentaron los resultados de la Iniciativa DINAMICA destinada a la innovación y el emprendimiento.

With the DINAMICA Initiative, CABEI strengthens the MSME sector in the region through access to financing.

Punta Cana, Dominican Republic, May 31, 2018.- Contributing to the promotion of innovation and entrepreneurship, as well as strengthening the financial sector that serves Micro, Small and Medium Enterprises (MSMEs) are the objectives of the Initiative for the Development of Ideas for Business and Acceleration of Central American MSMEs (DINAMICA Initiative).

The DINAMICA initiative integrates the efforts of the European Union (through its Latin American Investment Facility- LAIF), the Government of Germany through KfW, and the Central American Bank for Economic Integration (CABEI), which generates employment through MSMEs, thus achieving economic development and reducing poverty in the region.

Development of Innovation and Entrepreneurship

One year after its launch, the DINAMICA Initiative has disbursed a total of US $20.0 million in the Central American region in regard to reimbursable resources. In addition, US $5 million was disbursed to the microenterprise sector: US $9.0 million to small companies and US $5.5 million to medium-sized companies.

In parallel, in the non-reimbursable resources sector, US $2.2 million was approved as a technical cooperation; this was announced by the Central American Bank for Economic Integration (CABIE) during the exhibition entitled "Development of Ideas for Business and Acceleration of Central American MSMEs (DINAMICA Initiative)" during the 2nd. Regional Meeting of MSME Centers of Attention.

This program has benefited the new, young, innovative MSMEs through technical cooperation, for example, approved technical cooperation to support 67 organizations during the three stages of the entrepreneurial ecosystem (creation, formalization and consolidation). These institutions employ 236 women and 305 men.

Also, 12 technical cooperation were approved for the Dynamic Business Development Center for the Intermediary Financial Institutions; support 44 sponsorships and 15 events on issues to promote forums to accelerate high-impact ideas.

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