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Wednesday, 26 January 2022 17:45

CABEI approved a line of credit to Banco CUSCATLAN to support MSMEs

Written by Evelyn Alas
CABEI approved a line of credit to Banco CUSCATLAN to support MSMEs

The Central American Bank for Economic Integration (CABEI) approved a US$60 million line of credit to Banco CUSCATLAN to support the economic reactivation of Micro, Small and Medium-Sized Enterprises (MSMEs) and promote the competitiveness of the business sector.

This approval is expected to benefit more than 450 companies, preserving approximately 16,900 jobs, as well as 160 SMEs that employ 2,956 people, 56% of whom are women.

CABEI Executive President, Dante Mossi, stated that this strategic alliance is very important for CABEI, as it is an opportunity to expand the network of financial institutions through which resources will be channeled to meet the financing needs of salvadoran companies.

The resources will be used to finance activities related to foreign trade, MSMEs affected by COVID-19, as well as those led by women, and to promote energy efficiency investments, among other activities.

This initiative is part of 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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