CABEI and Banco Hipotecario promote social and economic development in El Salvador
By: BCIE News, El Salvador
With the Financial Intermediation programs available through a Global Credit Line, CABEI facilitates the multiplier effect of Central American MSMEs.
San Salvador, May 16, 2019.- The Central American Bank for Economic Integration (CABEI) and Banco Hipotecario of El Salvador signed an agreement to renew a Global Credit Line (GCL) for an amount of US$54.5 million in order to meet the demands of the different sectors served by Banco Hipotecario.
The credit line is another example of CABEI's commitment to financing MSMEs in the different sectors of the Salvadoran economy. Banco Hipotecario has been a strategic ally of CABEI in the placement of credits related to biodiversity, green credits and agribusiness, among others.
Similarly, Banco Hipotecario is preparing to make use of the funds from the CABEI Regional FEM Program with a gender focus for its new Banca Mujer business line. In addition, it has a new credit product for entrepreneurs, which was designed through non-reimbursable technical cooperation granted within the framework of the DINAMICA Initiative.
This GCL renewal between Banco Hipotecario and CABEI is carried out within the framework of its Institutional Strategy "Integrating Sustainable Development and Competitiveness," as part of the focus area of financial intermediation and finance for development.