CABEI grants more financing to support El Salvador’s social development and competitiveness
San Salvador, March 6, 2015.- The Central American Bank for Economic Integration (CABEI) granted a US$2,000.000.00 global credit line expansion to the Federation of Credit Unions and Workers' Banks (FEDECRÉDITO, Spanish acronym).
The global credit line increase will be used to finance operations in the framework of the different types of financial intermediation programs, focusing on strengthening MSMEs and municipal infrastructure.
The intervention falls in the framework of CABEI’s 2015-2019 Institutional Strategy "Integrating Sustainable Development and Competitiveness," and provides support to the focus area of Financial Intermediation and Development Finance. In addition, it contributes to the country’s social development and competitiveness by creating income generating opportunities through the MSME support program and by channeling resources to finance municipal or community works.
Through CABEI’s different programs and investments, the Bank seeks to contribute to the development, growth and productivity of the business sector. Currently, CABEI is the organization that provides the greatest support to Micro, Small and Medium Enterprises (MSMEs) in the Central American region. Cumulatively through 2014, the Bank has placed more than US$2.80 billion through its network of strategic allies in order to maintain and generate more than one million jobs by providing financing to 681,000 productive units and advancement opportunities to low-income households.
