CABEI encourages female entrepreneurship in the Central American region
Financing channeled through the FEM Program totals approximately US $10.6 million, which are aimed at promoting the growth and modernization of women's businesses.
Tegucigalpa, March 8, 2018.- In terms of gender equity, the Central American Bank for Economic Integration (CABEI) has given great importance to specific programs that support this issue, for example the Regional Program for Business Financing for Women (FEM).
The FEM Program facilitates financing for women who wish to start a new business, women who own Micro, Small or Medium Enterprises (MSMEs) with members and with a patrimonial majority of women.
The program began its implementation in 2016 with the aim of ensuring this sector of society has greater access to credit under better conditions.
In its first year of execution, disbursements have been granted to women entrepreneurs channeling resources for more than US $10.6 million, thus benefiting 3,476 women entrepreneurs at a regional level.
With programs of this type, said the acting president of CABEI, Alejandro Rodríguez Zamora, the institution hopes to achieve equitable development, as well as support the inclusion of women in financial services.
With this type of financial schemes, CABEI encourages the efforts made to improve and expand female participation in the workforce and to make it possible to make the best of economic opportunities for women, to represent a contribution to economic growth, to fight against poverty and the expansion of markets, the fundamental principles of economic integration, said Rodríguez.
The FEM Regional Program has a Gender Advisory Group composed of four entities of the Central American Integration System: CABEI, the Council of Ministers of Central American Women, the Secretariat of Central American Economic Integration, the Regional Center for the Promotion of Micro and Small Businesses in Central America, with additional specialized support entities like UN Women and the Central American Microfinance Network, which proactively accompanied this program.
The funds are directed to MSMEs with more than 50% of female employees, legally constituted and with a maximum number of up to 100 employees.
