With new US$5 million disbursement, CABEI reinforces its support for Guatemalan MSMEs
With these additional resources, CABEI has channeled a total of US$22 million to the financial sector to maintain and reactivate the productive and commercial activities of companies in the country.
Guatemala City, July 6, 2021.- The Central American Bank for Economic Integration (CABEI) granted a new disbursement of US$5 million to Banco de Desarrollo Rural (BANRURAL) in order to continue supporting economic reactivation in the region and provide financial resources on favorable terms for micro, small and medium-size enterprises (MSMEs).
These new resources are in addition to the US$17 million that CABEI has disbursed to the Guatemalan financial system for a total of US$22 million, which translates into 454 loans for micro and small businesses affected by the pandemic, employing more than 3,500 people with nationwide coverage.
In reference to this new disbursement, CABEI Executive President, Dr. Dante Mossi commented, "We are pleased to know that the credit resources of our MSME Support Facility are being used by our partner financial institutions and channeled to Guatemala's smallest companies, demonstrating that there are capital needs in the business sector and that part of these needs are being met with CABEI resources.
Mossi added that CABEI will continue to manage and provide resources on soft terms to support the work of MSMEs and design innovative complementary products such as credit guarantee funds, resources for technical assistance, training and specific programs for the region's business sector.