More than 10,000 Nicaraguans benefited through DINAMICA, a CABEI initiative focused on MSMEs

Managua, June 10, 2022.- "Zeas Apícolas" is a small Nicaraguan business that has been growing stronger for the past five years by diversifying its portfolio with six new honey products, improving its sales, production and administrative processes, actions that have been possible thanks to the financing received through the Development of Business Ideas and Acceleration of Central American MSMEs (DINAMICA) initiative.

Aurora Zeas, who received technical assistance and training for the proper management of her business and is one of the 10,328 Nicaraguans who benefited from this tripartite initiative between the Central American Bank for Economic Integration (CABEI) with support from the German government through KfW and the European Union, through its Latin American Investment Facility (LAIF).

"We are very pleased to know that we are meeting the objective of the program, which is to strengthen the entrepreneurial ecosystem of Central American MSMEs. In the case of Nicaragua, we have benefited more than 10,000 business owners and channeled approximately 6,107 subloans, which translates into economic dynamization and the generation of more jobs," said CABEI Executive President Dr. Dante Mossi.

With the objective of increasing the entrepreneurial capacities of MSMEs in Nicaragua, since 2016, with DINAMICA resources, technical assistance and training was provided to a total of 266 enterprises and MSMEs, and a total of 10,062 loans were granted for a cumulative total of US$16.8 million.

The impact achieved with the implementation of this Initiative was recently confirmed by a CABEI delegation, who visited different areas of the country to learn about the successful experiences of Entrepreneurial Development Centers and beneficiary businesses such as Tropicana Fruit Farms, Moropotente, Zeas Apicola, Tío Salvador, Panadería Schick, Abonatura and Favás Green House.

The initiative is also implemented in Guatemala, El Salvador, Honduras, Costa Rica and Panama, where by the end of 2021, 11,123 loans for an amount of US$62.4 million had been placed, positively impacting the generation of 21,662 jobs.