The Central American Bank for Economic Integration (CABEI) awarded its sixth Management Award in Microfinance to the Organization of Female Business Development (ODEF), Honduras. The award consists of a diploma of r CABEI rewards in microfinance management
CABEI recognizes the entrepreneurial capacity of micro-entrepreneurs, encouraging competitiveness and job creation in the region with the delivery of the sixth edition of Management Award in Microfinance.
The Central American Bank for Economic Integration (CABEI) awarded its sixth Management Award in Microfinance to the Organization of Female Business Development (ODEF), Honduras. The award consists of a diploma of recognition and a monetary incentive of 5 thousand dollars.
In his speech, the Head of Project Development of the Central American Bank for Economic Integration (CABEI), Manuel Torres, emphasized that the award is a recognition of the excellent work on behalf of the micro, small and medium-sized enterprises SMEs (MIPYMES).
The CABEI official also expressed that the CABEI award in Microfinance Management was established by the multilateral body to stimulate the performance of microfinance institutions that channel resources of the Bank in order to encourage the development of the sector and continue allocating resources in a sustainable manner to the SMEs in Central America.
In the sector of the SMEs, CABEI has maintained a portfolio of some 100 intermediary financial institutions, during 2013 were disbursed $689 million, channeled to more than 659 thousand companies, which employ more than 950 thousand Central Americans - 63% women-, to help reduce poverty in the region.
The Organization of Female Business Development (ODEF) was selected for its high qualifications in the different categories assessed, which include: financial self-sufficiency, average loan, percentage of women beneficiaries, percentage of beneficiaries of the agricultural sector and operational efficiency.
