The Republic of El Salvador, with CABEI support, benefits more than 78 thousand MSMEs affected by COVID-19
90.3% of the Bank's largest financing to a partner country has already been disbursed.
San Salvador, January 13, 2022.- A new disbursement of US$100.9 million from the Program to Support Economic Recovery Measures Implemented to Benefit Businesses and Employment Affected by COVID-19 was made by the Central American Bank for Economic Integration (CABEI) to support 78,781 micro, small and medium-sized enterprises (MSMEs) affected by the pandemic.
With this third amount, CABEI disbursed US$541.9 million of the total of the largest financing approved for a member country in the Bank's history of US$600 million, representing 90.3%.
"CABEI's support to its member countries during the crisis has been overwhelming, both in terms of health and economic recovery, and we have provided agile and efficient responses. We are pleased with the rapid execution of this important financing for one of the engines of the Salvadoran economy, such as MSMEs," said CABEI Executive President Dante Mossi.
Through this operation, the Republic of El Salvador has successfully executed this project's programs, benefiting 43,813 entrepreneurs with financing on favorable terms, and 34,968 with subsidies. Among them: MSMEs, artisans, artists, artists, fishermen, cab drivers, school transportation, and people with disabilities, among others.
Through the aforementioned programs, created by the government for both the formal and informal sectors, we are contributing to the reactivation of productivity and the reduction of the negative impacts caused by the pandemic.