CABEI signs US$50.0 million increase in global credit line with Banco Popular y de Desarrollo Comunal

San José, April 20, 2015. - The Central American Bank for Economic Integration (CABEI) signed a US$50.0 million agreement with Banco Popular y de Desarrollo Comunal to increase its global credit line for micro, small and medium enterprises, productive sectors and working capital to support its annual transfer of obligatory savings to the pension fund.

The credit line will permit the bank to provide financing on generous terms to companies that have productive enterprises under operation, as well as to efficiently channel resources to MSMEs in order to promote the country’s productive sectors. The line will also lead to the bank’s strengthening by providing it with working capital.

The agreement marks another step in CABEI’s commitment to financing the country’s MSMEs and productive sectors. With this increase, Banco Popular y de Desarrollo Comunal’s credit line with CABEI totals US$200 million of resources available to strengthen business activity, thereby contributing to job creation in the country. To date the global credit line resources have benefited close to 16 thousand people, 52% of whom are men and 48% women.