New Financial Scheme to Encourage Credit to MSMEs
CABEI has channeled more than USD 2 billion through the financial sector to the MSMEs sector.
Tegucigalpa, September 21, 2018.- Innovative entrepreneurs in the country will have a new financial scheme that will support the growth of the Micro, Small and Medium Enterprises sector, to promote employment generation and improvement opportunities for Hondurans.
The Central American Bank for Economic Integration (CABEI), within the framework of the DINAMICA Initiative and CONFIANZA, a Mutual Guarantee Fund Administration Society, will develop the project entitled "Specialized Technical Assistance for the Development of a Model of Attention to Innovative Entrepreneurs with Mutual Guarantees".
The new product will create financing options for innovative entrepreneurs by strengthening the technical knowledge and skills needed to develop guarantee products and financial products that can stimulate financial intermediaries to provide access to credit to entrepreneurs and innovative MSMEs.
At an informational breakfast, CABEI representatives announced that at the regional level the multilateral entity has channeled more than US$2 billion through the financial sector to the MSMEs sector, benefiting more than 753,000 enterprises at the regional level, which employ more than 1.5 million people (51.4% women).
In the case of Honduras, in the 2013-2017 period, more than US$22 million (equivalent to L.528 million) have been channeled through the Honduran financial sector to support Honduran MSMEs.
CABEI, through the DINAMICA Initiative, will promote the guarantee product, with which it is expected that, together with the financial system, a product will be built focused on financing innovative ventures, so that these entrepreneurs can have comprehensive care to enable them to enhance their ventures.
This support is provided by CABEI within the framework of the Initiative "Development of Business Ideas and Acceleration of Central American MSMEs (DINAMICA)", a tripartite initiative between the Central American Bank for Economic Integration (CABEI), the Financial Cooperation of the Federal Republic of Germany (KfW), and the European Union, through its Latin American Investment Facility (LAIF).
