US$100.0 million approved for Honduran MSMEs affected by COVID-19
The US$300.0 million program aims to support MSMEs during the situation the country is facing due to the COVID-19 pandemic.
Tegucigalpa, May 22, 2020.- In order to sustain employment conditions and economic reactivation, the first disbursement amounting to US$100.0 million of a US$300 million total in financing granted by the Central American Bank for Economic Integration (CABEI) has been approved for the Program denominated, “Economic Reactivation for Micro, Small and Medium Enterprises (MSMEs) during the COVID-19 Crisis and Post Crisis in Honduras.”
The US$100.00 million agreement was signed by Honduran Finance Minister, Rocío Tábora, and CABEI Executive President, Dr. Dante Mossi.
Dr. Mossi explained that, "This is the first part of a US$300 million financing, which will allow the country's entrepreneurs to face the difficult moments resulting from the coronavirus pandemic. In addition, it is a tool with which MSMEs can solve financial problems, avoiding personnel layoffs, while maintaining operations."
Noteworthy program results include benefits to 9,252 MSMEs with favorable financing conditions, employment for 101,772 people who work in the MSME sector and guarantee funds that enable access to financing for 12,408 MSMEs, channeling resources through 58 financial intermediaries.
