More than 450 Salvadoran companies will benefit from a US$60 million credit line approved by CABEI to Banco Cuscatlán
Tegucigalpa, January 24, 2022.- The Central American Bank for Economic Integration (CABEI) approved a US$60.0 million line of credit to Banco Cuscatlán de El Salvador to promote the economic reactivation of micro, small and medium-sized enterprises (MSMEs) and enhance the competitiveness of the business sector.
This approval will benefit more than 450 companies, preserving approximately 16,900 jobs, as well as 160 SMEs that employ 2,956 people, 56% of whom are women.
CABEI Executive President, Dr. Dante Mossi stated, "This strategic alliance is very important for CABEI, as it is an opportunity to expand the network of financial institutions through which resources will be channeled to meet the financing needs of Salvadoran companies.”
The resources will be used to finance activities related to foreign trade, micro and small and medium-size companies affected by COVID-19, as well as those led by women, and to promote energy efficiency investments, among other activities.
This initiative is framed within CABEI's 2020-2024 Institutional Strategy, within the Sustainable Competitiveness Axis, contributing to the strategic objective of contributing to inclusive economic growth.