US$34 million investment CABEI signs agreement to strengthen and promote MSMEs, international trade and productive sectors in Honduras

Tegucigalpa, October 6, 2014. -  The Central American Bank for Economic Integration (CABEI) granted a US$34.0 million Global Credit Line expansion to Banco FICOHSA in order to support Micro, Small and Medium Enterprises (MSMEs), as well as to promote international trade and the productive sectors in the country.

This Global Credit Line falls under the framework of CABEI’s strategic axes, specifically that of Social Development and Competitiveness, with an emphasis on strategic objectives targeted at creating opportunities for income generation and the mobilization of capital in order to generate investment in Honduran productive sectors.

These resources fall under the framework of the focus area of Financial Intermediation and Development Finance established in the CABEI 2010-2014 Institutional Strategy "Competitiveness with Integration and Social Development."
   
CABEI Country Manager for Honduras, Pedro Banegas, stated that this Global Credit Line is another of CABEI’s efforts to demonstrate its commitment to supporting MSMEs as part of its strategic axes of Social Development and Competitiveness, in order to make a significant impact on employment generation and poverty reduction.

Through its different programs and investments, CABEI seeks to contribute to the development, growth and productivity of the business sector. Currently, CABEI is the multilateral organization that provides the most support to MSMEs; cumulatively through 2013, the Bank has placed over US$2.77 billion through its network of strategic affiliates.