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Wednesday, 02 February 2022 14:48

CABEI reaffirms support to salvadoran MSMEs with a new US$10 million disbursement to Banco Hipotecario

Written by Evelyn Alas
CABEI reaffirms support to salvadoran MSMEs with a new US$10 million disbursement to Banco Hipotecario

With the commitment to reaffirm its support to salvadoran micro, small and medium-sized enterprises in their economic reactivation after the crisis caused by the COVID-19 pandemic, the Central American Bank for Economic Integration (CABEI) made a new disbursement of US$10.0 million to Banco Hipotecario de El Salvador (BH).

This financial facility, which supports BH and is part of the Bank's Economic Reactivation Program, will safeguard more than 3,000 jobs and keep more than 155 MSMEs in operation.

"For CABEI, strengthening MSMEs is one of our most important objectives because they are what drive the economy. Helping them remain strong is essential, especially at this time when the COVID-19 pandemic continues to affect us greatly", said CABEI Executive President, Dr. Dante Mossi.

With this new amount, the BH accumulates US$50 million granted by CABEI under the Financial Sector Support Facility for MSMEs affected by COVID-19, representing 39% of an accumulated total of US$127.0 million already disbursed by the Bank to the salvadoran financial sector from july 2020 to date, with the objective of continuing to support the sector.

This initiative is framed within CABEI's Institutional Strategy 2020-2024, within the Sustainable Competitiveness Axis, contributing to the strategic objective of contributing to inclusive economic growth.

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