Rural Guatemalan entrepreneurs strengthen value chain in their business ideas
The financing seeks to streamline the performance of entrepreneurs through technical assistance in aspects of marketing and sale of products, including market studies, obtaining licenses and health records, as well as the development of management systems.
Guatemala, July 03, 2018.- The Initiative for the Development of Business Ideas and Acceleration of Central American MSMEs (DINAMICA), which is executed by the Central American Bank for Economic Integration (CABEI), signed a non-reimbursable technical cooperation agreement for an amount of up to US$63,000.00 with the Association for the Promotion of New Development Ideas (APRONID).
The expected results with the implementation of the project, "Strengthening of Value Chains for Innovation and Entrepreneurship of Rural Guatemalan Youth," include supporting 10 Guatemalan entrepreneurs through the acquisition of health licenses and registrations, market studies and commercialization, as well as providing advice for innovation in product quality control with the idea of exporting them.
The enterprises that will receive this support include those dedicated to the production of chocolate with cardamom and soluble chocolates located in Cahabón, Alta Verapaz; producers of moringa in Chiquimula; and entrepreneurs focused on community tourism in Mixco Viejo, among others. The promotion of ideas, opportunities and rural sustainability is part of the objectives of the project, which seeks to promote the inclusion of vulnerable people and communities in rural areas through the development of productive projects.
APRONID seeks to establish a Dynamic Business Development Center to facilitate the legal incorporation of SMEs in Guatemala in order to reduce their informality and to establish a roadmap to increase the commercial base within the country. The strengthening of capacities will enable increasing the number of jobs generated, as well as the possibilities of increasing Guatemalan exports.
Participants at the agreement signing ceremony included the Executive Assistant to CABEI's Director for Guatemala, Alfredo Blanco; CABEI Country Manager for Guatemala, Trevor Estrada; APRONID's Legal Representative, Valentín Diaz; and the entrepreneurs who are project beneficiaries.
DINAMICA is a tripartite initiative executed by CABEI with the support of German Cooperation through loans from the KfW Development Bank and development cooperation funds of the European Union as part of its Latin American Investment Facility (LAIF). The initiative aims to strengthen the business ecosystem for MSMEs, especially for new, young and/or innovative MSMEs and to reinforce the financial sector at the regional level in order to promote adequate access to financial services for these MSMEs.
