To strengthen Nicaraguan MSMEs, CABEI renews line of credit with PRODESA
• Through intermediary financial institutions, the multilateral in Nicaragua has managed to preserve and recover 28,557 jobs in a year and a half.
Managua, November 04, 2021.- In support of Nicaragua's micro, medium and small enterprises (MSMEs) in the face of the economic crisis, the Central American Bank for Economic Integration (CABEI) and the Promotion and Development Foundation (PRODESA) signed an agreement to renew a US$6.0 million global line of credit.
With the availability of these resources, and with a 12-month term, businesses in urban and rural areas in the productive, commercial, and service sectors will be able to access financing under favorable conditions for their economic reactivation.
"We continue to support Nicaragua's economic and social development by channeling resources to the MSME sector in difficult times, when the health crisis requires us to take greater action by providing them with the tools they need to move forward," said CABEI Executive President, Dr. Dante Mossi.
The renewal of this credit line to the intermediary financial institution PRODESA is part of the MSME Financial Sector Support Facility. In just a year and a half, this program has preserved and recovered 28,557 jobs in Nicaragua and supported the adaptation, solvency, and transformation of 498 companies, with financing of US$66.8 million.