Thursday, 07 January 2021 18:58

Government allocated about US$10 million in the 2021 National Budget for micro and small businesses

Written by Marcos Ramos

The president of the National Commission for Micro and Small Enterprises (CONAMYPE), Paul Steiner, stated that within the General Budget of the Nation 2021, US$10 million will be destined to execute two funds established by the MYPE Law.

The president of CONAMYPE explained that these are two capital funds to invest in micro and small businesses, the first is the PROGRAMYPE which consists of a guarantee fund to assist micro and small businesses and access credit, the second is the FECAMYPE which is money directly oriented to seed capital, working capital and investments in machinery and all types of industrialization in order to help MYPES grow, said President Steiner.

In this 2021, it is planned to establish new spaces for the users of the institution, such as the Directorate for Financial Services.

"This whole package is already ready to be presented to the board of directors next week", confirmed Steiner.

We are working on one of our divisions called MYPES Protection. They are focusing on prompt payment to MSEs, which is the law, monitoring 25% of government purchases of goods and services that have to be for MSEs", the organization's president said.

The micro and small represent an important sector of the salvadoran economy and about 1.2 million people come under the dynamics of this sector, among entrepreneurs and self-employed.

What we need is to start promoting productivity and adding value to raw materials in El Salvador", Steiner said.


Last modified on Thursday, 07 January 2021 19:00