CABEI in alliance with AFD promote gender equality and economic development of MSMEs led by Panamanian women
Resources from the Regional Women's Entrepreneurial Financing Program (FEM) and the French Development Agency (AFD) will be available through the Global Bank Corporation.
Panama City, April 12th, 2023.– Facilitating access to economic resources for women entrepreneurs in Panama and preserving more than 120 jobs, the Central American Bank for Economic Integration (CABEI) disbursed a total of US$17.2 million to its financial ally Global Bank Corporation.
"Committed to ensuring gender equity in our region, as established in our 2020-2024 Institutional Strategy CABEI is very pleased to promote financing that contributes to women's economic empowerment, which allows them to overcome barriers and access resources that contribute to strengthening the economies of their countries," said CABEI Executive President Dr. Dante Mossi.
The resources of this Global Credit Line come from financing granted by the French Development Agency (AFD) to CABEI's Regional Entrepreneurial Financing Program for Women (FEM) thus complying with 100% utilization of this facility.
The purpose of the support granted by the AFD to the FEM in 2019 is to provide financing to micro, small and medium-sized enterprises (MSMEs) led by (or mostly composed of) women entrepreneurs for working capital or fixed asset purchases, mainly in the areas of services, agriculture, livestock, forestry, and business/rental activities, and to date disbursements totaling US$22.2 million have been made for the benefit of approximately 200 women entrepreneurs in El Salvador and Panama.