Thursday, 24 September 2020 20:00

Government assures that funds to support MSMEs are blocked by the Legislative

Written by Sandy Velasco

In response to the call by the Salvadoran Association of Industrialists (ASI) to support the micro, small and medium enterprise sector (MiPymes), the Government reaffirms that financing from loans to reactivate this sector is still not approved by the Legislative Assembly.

The Government has repeatedly called on the legislative opposition block to approve a $250 million loan with the Inter-American Development Bank (IDB), a request that has largely been ignored.

The funds will serve to support the MSMEs and put them under "the magnifying glass", as requested by the ASI.

This repetitive attitude only affects the economic reactivation of these important sectors, which is where the greatest number of jobs are generated. Funding has an important component for informal trade, and for subsidizing wages for small businesses that had difficulty operating during the pandemic.

The Government of President Nayib Bukele reiterates that this attitude of some parties does not affect the Executive, but rather the neediest population that has had economic difficulties during the health emergency.

It is of vital importance to rescue the productive fabric behind thousands of entrepreneurs. For this reason, the Government of President Bukele is willing to make these resources available as soon as these are released by the deputies.

Last modified on Thursday, 24 September 2020 20:07