In support of Nicaraguan MSMEs and other economic sectors in the country, CABEI renews credit line to Banco de Finanzas
In the last two years, CABEI disbursements through the Financial Sector Support Facility for financing MSMEs have preserved 36,509 jobs.
Managua, May 19th, 2022.- Continuing with its commitment to promote Nicaragua's economic development in alliance with the country's private sector, this Thursday the Central American Bank for Economic Integration (CABEI) and Banco de Finanzas, Sociedad Anónima (BDF), renewed a US$32.0 million Global Credit Line.
The funds will be used to meet the financing needs of small and medium-size Nicaraguan companies, as well as to create business opportunities to strengthen other key sectors that have suffered a series of difficulties during the pandemic and that will benefit from CABEI's financial intermediation programs.
"As CABEI, we are fulfilling our objective of supporting Nicaragua's business sector in order to contribute to job creation and poverty reduction. In this sense, we maintain active operations of great importance aimed at the country's private sector, with a portfolio of US$119.28 million in alliance with 8 intermediary financial institutions, including BDF," said CABEI Executive President, Dr. Dante Mossi.
CABEI uses various programs and mechanisms to support the Central American productive sector in its economic recovery from the COVID-19 pandemic. One of these is the Financial Sector Support Facility for financing MSMEs, which in Nicaragua has disbursed US$72.6 million in the last two years, preserving 36,509 jobs.
Carlos De Castilla, CABEI Nicaragua Country Chief Officer, Jaime Alberto Altamirano, General Manager of Banco de Finanzas, Sociedad Anónima (BDF) in Nicaragua, and other officials from both institutions participated in the formalization of this credit line.