Tuesday, 04 May 2021 07:20

BANDESAL: US$107.9 million earmarked for second phase of FIREMPRESA program

Written by Alondra Gutiérrez

The Banco de Desarrollo de El Salvador (BANDESAL) launched the second phase of the Fideicomiso para la Recuperación Económica de las Empresas Salvadoreñas (FIREMPRESA), which is intended to benefit fishermen, artists, school transportation companies, cab drivers, and private schools.

This Fideicomiso para la Recuperación Económica de las Empresas Salvadoreñas (FIREMPRESA) is an important driver of the salvadoran economy and a key factor for the country's economic growth, by strengthening the informal commercial sector and micro, small and medium-sized enterprises (MSMEs).

The president of BANDESAL, Juan Pablo Durán, informed that on May 12 disbursements will begin for all subsidy programs, which will serve to support the recovery of MSMEs and businesses affected by the fire in the Santa Ana market.

"We have transferred US$47 million to the informal sector of our country, to continue boosting the economy of El Salvador and US$3 million to help formal and informal vendors in the Santa Ana market", mentioned the president of BANDESAL.

The Minister of Agriculture assured that he will work together with BANDESAL to provide assistance to salvadoran farmers, designing financing strategies for traders of local products.

"To hear that fishermen are part of an agricultural rescue plan, to produce in a different way, is really exciting", said David Martinez, minister of Agriculture and Livestock.

Among the beneficiary sectors are: school transportation, tourism, cab drivers, artists and artisans, artisan fishing, people with disabilities who have a business and merchants affected by the fire at the Santa Ana market.

"People who enrolled in the pre-registration of the subsidy program for artists and artisans must complete the application on the website, between April 30 and May 5", said Pablo Durán, president of BANDESAL.

In order to apply to the economic recovery trust fund, please go to http://firempresa.gob.sv/