CABEI presents Green SME award at ExpoPYME 2017

San José, April 7, 2016. -The Central American Bank for Economic Integration (CABEI) provided support to the Government of Costa Rica in carrying out the event denominated, ExpoPYME 2017: Growing without Borders." The event offered small and medium enterprises (SMEs) the opportunity to do business, sell their products and generate productive chains. 

On this occasion, the ExpoPYME was transformed to become the largest Central American SME fair in the framework of the Pro Tempore Presidency of the Central American Integration System; a position that will be held by Costa Rica for a period of 6 months.

Part of the event’s transformation involved a Central American Pavilion in which entrepreneurs from Belize, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic gathered to discuss a wide range of financial and development support services and promote the formalization, consolidation and growth of the Costa Rican and Central American business sector.

During the inaugural ceremony, which was attended by renowned regional authorities, cooperating organizations and entrepreneurs, CABEI Director for Costa Rica, Mr. Alberto Cortés Ramos, presented PROSANA FOODS with the Green SME Award. The award recognizes the company’s successful experience in strengthening its growth and entrepreneurial development process, as well as complying with environmental sustainability guidelines.

At the inauguration, Costa Rican Minister of Economy Industry and Commerce (MEIC), Geannina Dinarte Romero, stated that, "ExpoPYME is evolving and transcending borders in order to facilitate access to markets and generate linkages. MEIC’s priority is to achieve a more dynamic internal market with a constant link to exports. Therefore, the SICA region is essential for SMEs to connect and generate business, which in turn will lead to the creation of new employment sources and inclusive growth.”

As part of its commitment to the sector, CABEI is making progress in proposing financing mechanisms in line with the needs of business organizations. Currently, the Bank is implementing the "Development of Business Ideas and Acceleration of Central American MSMEs" (DINAMICA Initiative), which seeks to promote entrepreneurship, innovation and responsible financing in Central America.

The DINAMICA Initiative has EUR 50 million in financing from the Government of Germany through its KfW Development Bank, the European Union and CABEI. The resources will be channeled through CABEI's regional network of intermediary financial institutions. The Initiative also has technical cooperation resources which will be used to strengthen the entrepreneurial ecosystem and generate investment in the sector.