Guatemalan MSMEs provided with additional support from PROMITUR

25/07/2019
PROMITUR fue formulado conjuntamente con las autoridades y representantes de los Ministerios de Turismo y de las Cámaras de Turismo de cada uno de los países del SICA y las ANT de Centroamérica y República Dominicana.
PROMITUR fue formulado conjuntamente con las autoridades y representantes de los Ministerios de Turismo y de las Cámaras de Turismo de cada uno de los países del SICA y las ANT de Centroamérica y República Dominicana.

Credit and technical assistance program launched for tourism MSMEs in Guatemala.

Guatemala City, July 25, 2019.- The Central American Bank for Economic Integration (CABEI), the Central American Tourism Integration Secretariat (SITCA) and the Guatemalan Tourism Institute (INGUAT) launched the “Regional Competitiveness and Sustainability Program for Tourism MSMEs (PROMITUR)” aimed at the private tourism sector.

At the event, it was reported that PROMITUR was developed in order to promote the competitiveness and sustainability of the tourism sector through access to credit for tourism Micro Small and Medium Enterprises (MSMEs). The program will be implemented through CABEI's network of financial intermediaries with which it works in all the countries of the region.

In addition, it was explained that with an initial contribution of US$10 million, CABEI will provide access to credit and technical assistance to improve the quality of the tourism products and services offering, as well as its associated activities, among others: hotels, restaurants, tourism operators, tourist transportation and other thematic and cultural production activities  related to tourism.

PROMITUR was formulated through joint work with the authorities and representatives of the Ministries of Tourism and Chambers of Tourism of each of the countries of the Central American Integration System and the National Tourism Authorities of Central America and the Dominican Republic; who, aware of the limitations that tourism sector MSMEs have in accessing credit under competitive conditions, asked CABEI for support in developing a specific credit program for the sector.

In his speech, CABEI Director for Guatemala, José Carlos Castaneda, announced that CABEI has become a benchmark regarding financing for MSMEs in the region, allocating more than US$9.25 billion to the financial sector since 1996.

In the case of Guatemala, he highlighted that during the 2013-2019 period, the Bank provided financing amounting to US$642 million to the financial sector in order to support investments aimed at strengthening Guatemala's productive sectors and MSMEs.

For their part, the national tourism administrations (NTAs) indicated that PROMITUR will meet the credit needs of the tourism sector with adequate conditions; provide specialized technical assistance to tourism MSMEs in developing business plans for their internationalization and access to markets; promote MSMEs at all stages to achieve the Certification of the Central American Integrated System for Tourism Quality and Sustainability; and support innovation, new business models and the development of tourism products taking advantage of the use of technologies.

Guatemalan tourism businessmen who wish to be qualified for access to microcredits must be legally registered with the Guatemalan Tourism Institute (INGUAT), where they will be provided with additional information to carry out the credit qualification process in the different intermediary financial institutions. SITCA email: sitcatourism@gmail.com
 

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