CABEI promotes access to MSMEs financing through the COVELO Foundation


An increase to the credit line of the financial institution by US$5.0 million, will allow increasing the number of loans and credits on favorable terms for this business sector

Tegucigalpa, September 6, 2022.– In order to promote access to credit for working capital and investment for the MSME, the Central American Bank for Economic Integration (CABEI) and the José María Covelo Foundation formalized an increase in the amount of the global credit line by US$5.0 million.

These resources are in addition to the original amount granted in July 2020 for US$2.5 million and will facilitate the growth of the Foundation's microfinance portfolio, which maintains a focus on MSME loans from rural and urban sectors offering them greater reach and accessibility to loans thanks to the financial inclusion that is created.

We are happy to be able to support the development of Honduran families by supporting MSMEs, which are one of the engines of social and productive development in the country. With this funding, in addition to strengthening the financial sector, we are promoting for thousands of people to improve their quality of life, "said the executive president of CABEI, Dr. Dante Mossi.

This line will be able to finance initiatives from various sectors such as social housing, production, education, energy efficiency and sustainable actions with the environment, which boosts the country's economy and responds adequately to economic reactivation, which also contributes to the generation of employment and wealth within the framework of sustainable development.

“This extension of the credit line displays the Bank's interest in supporting the productive sectors of the micro and small business represented by thousands of families in our country, which also generate thousands of jobs and make a great contribution to the GDP of our countries; and the trust that CABEI is placing in this strategic link to reach the smallest, with the social, environmental and economic approach will mean a greater financial inclusion,” said the executive president of the Covelo Foundation, Mr. Juan José Lagos.

The contract was signed by the executive president of CABEI, Dr. Dante Mossi and the executive president of the Covelo Foundation, Mr. Juan José Lagos; and as an honorary witness the director for Honduras before CABEI, Mrs. Belinda Carias

This operation contributes to the Sustainable Development Goals (SDGs), 1 "End of poverty"; 8 "Decent work and economic growth"; 11 "Sustainable cities and communities"; and 12 "Responsible production and consumption".