DINAMICA Initiative and UNITEC promote dynamic enterprises in Honduras

Tegucigalpa, July 12, 2017- . The Central American Bank for Economic Integration (CABEI), which is the executing entity of the Initiative for the Development of Business Ideas and Acceleration of Central American MSMEs  (DINAMICA Initiative), signed a non-reimbursable technical cooperation agreement for up to US$ 56,000.00 with Universidad Tecnológica Centroamericana (UNITEC).

The agreement seeks to strengthen technical and training services at Entrepreneurship Clubs (HUBs) located in UNITEC Tegucigalpa and UNITEC San Pedro Sula in order to support dynamic and innovative enterprises and turn them into incubators of internationally recognized quality.

The cooperation agreement involves supporting the HUBs to diagnose their current situation, improve their services for the attention of new, young and innovative enterprises and develop operational and innovative processes, including the creation of a virtual platform for entrepreneurs.

This project falls under the framework of the DINAMICA Initiative and will have resources from the European Union, through its Latin American Investment Facility (LAIF), which has donated technical assistance resources to promote the development financial products for new, young and/or innovative Micro, Small and Medium-sized enterprises (MSMEs) and to foster transparency and responsible financing at financial institutions at a regional level.

The agreement was signed by acting CABEI Country Manager for Honduras, Mr. Manuel Torres, and UNITEC President, Dr. Marlon Brevé. In addition, honor witnesses at the agreement signing included representatives from the German KfW Development Bank and a Delegation from the European Union.


DINAMICA Initiative, an initiative to strengthen the region’s MSMEs

The DINAMICA Initiative is a tripartite initiative of CABEI as executing entity, the Government of Germany through its KfW Development Bank and the European Union as part of its Latin American Investment Facility (LAIF) program. Its main objective is to strengthen the business ecosystem for MSMEs, especially for new, young and / or innovative MSMEs. This approach also includes strengthening the financial sector at a regional level to promote adequate access to financial services for these MSMEs.

In order to achieve these objectives, the DINAMICA Initiative has (1) a EUR50 million in reimbursable resources from Germany through its KfW Development Bank and CABEI, which are channeled as loans to regional MSMEs through CABEI’s network of intermediary financial institutions. In addition, it has (2) a EUR3.8 million donation from the European Union for technical assistance and training of the Dynamic Business Development Centers, MSMEs affiliated to these centers and CABEI’s network of intermediary financial institutions.

The initiative is executed in the following Central American countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.