Guatemalan companies in the industrial, construction and manufacturing sectors access working capital with CABEI support
A disbursement to BANRURAL protected 403 jobs and made new resources available to continue supporting the revitalization of MSMEs.
Guatemala City, June 30th, 2022.- A total of 403 industrial, construction, manufacturing and real estate jobs in Guatemala were protected thanks to a new disbursement of US$18.5 million granted by the Central American Bank for Economic Integration (CABEI) to its financial ally Banco de Desarrollo Rural (BANRURAL).
Of the total resources, US$13.5 million will be used to finance working capital for companies operating in these sectors in order to increase their competitiveness and productivity, while the remaining US$5.0 million will go to micro, small and medium-sized enterprises (MSMEs) that need to maintain and reactivate productive and commercial activities over the next three months.
"CABEI will continue to strengthen its relationship with commercial banks, which are our strategic allies in transferring financial and technical resources to the business and MSME sector, thereby contributing to the protection of jobs, as well as improving productivity and competitiveness and promoting inclusive economic growth in Guatemala and the region," highlighted CABEI Executive President, Dr. Dante Mossi.
With these resources available for MSMEs, CABEI has disbursed a total of US$37 million in Guatemala through the MSME Support Facility affected by COVID-19 since 2020, channeled through the banking sector.
Through financial intermediation, CABEI makes different products available to its member countries to meet the financing needs of specific sectors such as Competitiveness Support Programs, MSME Support Programs, and Housing Programs, among others.