US$150 thousand granted to promote young talent and innovation in El Salvador

San Salvador, August 17, 2017. In order to promote Micro, Small and Medium Enterprise (MSME) access to new markets, innovation in product supply and diversification of marketing channels, the Central American Bank for Economic Integration (CABEI), which is the executing entity of the DINAMICA Initiative, signed a US$150,000 non-reimbursable technical assistance agreement with Universidad Francisco Gavidia (UFG) in El Salvador.

The project, which is denominated "Non-Reimbursable Technical Cooperation to promote the development and strengthening of 10 MSMEs attended by the GERMINA and CDMYPE programs at Universidad Francisco Gavidia (UFG),” aims to provide entrepreneurs and dynamic enterprises that are in the early stages with skills, tools and capabilities through specialized technical assistance in order to adjust their business models and, consequently, improve their product production and service delivery, as well as incur into new markets and increase productivity.

This technical assistance granted by UFG is supported by the European Union, Germany and CABEI through the DINAMICA Initiative, which is a financial program targeted at innovative entrepreneurs in the region.

The agreement was signed by CABEI Director for El Salvador, Mr. Guillermo Funes, and UFG President, Mr. Mario Antonio Ruiz Ramírez. In addition, the signing ceremony was attended by representatives from the European Union, the Government of Germany, the Regional Center for the Promotion of MSMEs (CENPROMYPE), the Salvadoran Ministry of Economy’s National Commission for Micro and Small Enterprises (CONAMYPE) and CABEI’s Regional Country Office in El Salvador, who served as honor witnesses.