CABEI creates credit opportunities for women entrepreneurs in the region

04/08/2017

Program prioritizes female employment and gender equality.

Tegucigalpa, August 4, 2017 (AFP SERVICES/CABEI). -  In an effort to achieve equal opportunities and gender equity in the region, during 2016 and 2017 the Central American Bank for Economic Integration (CABEI) increased women's participation in its loan portfolio; 53 percent of loans were allocated to micro, small and medium-sized enterprises (MSMEs).

By means of projects in the MSME sector, the Bank has consolidated its support towards women initiatives involved trade, agriculture and manufacturing activities, mainly in El Salvador, Guatemala, Nicaragua and Costa Rica.

A noteworthy example is the Regional Financing Program for Women Entrepreneurs (FEM); to date, CABEI has disbursed US$5.5 million, generating 2,845 jobs in Guatemala, El Salvador, Nicaragua and Costa Rica, and developing 2,358 projects with an average amount per project of US$2,355.22.
 
The FEM seeks to finance investments of women entrepreneurs and those with entrepreneurial spirit, especially those at the bottom of the economic pyramid. It promotes empowerment and economic autonomy in order to contribute to the regional process of women’s economic development and integration.

The initiative has the support of the Central American Integration System (SICA), the Council of Women Ministers of Central America (COMMCA), the Secretariat of Central American Economic Integration (SIECA), the Regional Center for the Promotion of Micro and Small Enterprise in Central America (CENPROMYPE), and additional support from UN Women and the Central American Microfinance Network (REDCAMIF).

CABEI Executive Vice President, Attorney Alejandro Rodríguez Zamora, stated that, “With this type of mechanisms, the entity reaffirms its commitment to promote economic and social benefits that contribute to reducing poverty, boosting regional trade and decreasing inequalities in the region.”

He added that, “There is still plenty of work to be carried out in the subject, however, CABEI promotes the active inclusion of women in societies through the generation of different programs, projects and instruments with a gender focus to attend the needs of women with regard to their economic empowerment, access to financial services and education.”

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