New CABEI disbursement of US$10 million to BANRURAL available to support economic revitalization of Guatemalan MSMEs
The Bank has channeled a total of US$32 million to the financial sector to reactivate the productive and commercial activities of micro and small enterprises in the country's 22 departments.
Guatemala City, November 03, 2021.- In addition to the US$9 million disbursed in the last year and a half by the Central American Bank for Economic Integration (CABEI) to its financial ally Banco de Desarrollo Rural (BANRURAL) in Guatemala, a new disbursement of US$10 million was recently granted to continue supporting the country's business sector in its economic reactivation.
CABEI Executive President, Dr. Dante Mossi commented, "CABEI will continue to support the dynamization of the Guatemalan business sector, with special emphasis on MSMEs. As the bank of Central Americans, we will continue to obtain resources under favorable conditions and provide flexible, appropriate and innovative financial solutions that meet the real needs of our member countries".
These new resources to BANRURAL are in addition to the US$22 million that CABEI has disbursed to the financial system in Guatemala, for a total of US$32 million, making it possible to impact 1,123 micro and small enterprises located throughout the country in the last year and a half, recover 418 jobs, and preserve 5,323 jobs, 29% of which belong to women.
In addition, 19% of these funds have been allocated to finance microenterprise operations, 45% to small and 36% to medium-sized enterprises, promoting access to credit in an inclusive manner for all business strata at the urban and rural levels.
This disbursement is part of CABEI's Financial Sector Support Facility for MSME Financing, through which CABEI has been contributing to the region's economic reactivation by making available to companies affected by COVID-19 different financial products such as credit guarantees, technical assistance resources, training and specific programs for the MSME sector in Central America.