CABEI promotes women's entrepreneurship by supporting more than 4 thousand MSMEs in Guatemala
With financing of more than US$28.2 million, women have better opportunities to invest in a business in the country.
Guatemala City, March 9th, 2023.- Throughout history, women have faced many barriers that have prevented them from developing themselves to the fullest and achieving their goals. For this reason, the Central American Bank for Economic Integration (CABEI), faithful to its commitment to promote development with equal opportunities, has implemented two programs in Guatemala that benefit 4,238 micro, small and medium-sized enterprises (MSMEs) in rural and urban areas.
One of the programs promoted by the multilateral is the Support Facility for MSMEs affected by COVID-19, a financial mechanism with a gender equality approach, which since 2020 has provided around US$20.5 million in working capital to support the adaptation and economic recovery of 1,148 female-led enterprises.
The channeling of these resources made it possible to protect 3,723 jobs occupied by women in sectors such as hotels and tourism, agri-food production, commerce, services and construction, operating not only in urban areas but also in rural areas and communities in almost all of the country's departments.
"In order to achieve levels of social and productive development in the region, it is essential to act in favor of women, youth and girls; it has been demonstrated that investing in women translates into investing in education, food, and health. From our role as the Bank of Central Americans, we will continue to promote initiatives that support women's empowerment and economic autonomy," said CABEI's Executive President, Dr. Dante Mossi.
In addition, through the Regional Business Financing Program for Women (FEM), CABEI has provided US$7.7 million in financing in Guatemala since 2016, contributing to the growth of MSMEs owned or managed by women. The sum of these efforts benefited 3,090 women entrepreneurs who market products and services in the western highlands of the country, generating 3,283 jobs.
CABEI continues on its path to continue promoting a change in culture by raising awareness to bridge important social gaps, learning and taking advantage of the multicultural differences that contribute to the experience of gender balance and an equitable and inclusive work culture and opportunities.