To strengthen Nicaraguan MSMEs, CABEI renews its line of credit with PRODESA
Managua, November 04, 2021.- In order to support Nicaraguan micro, medium and small enterprises (MSMEs) in the face of the economic crisis, the Central American Bank for Economic Integration (CABEI) and the Foundation for Promotion and Development (PRODESA) have signed an agreement to renew a overall financing of $ 6.0 million line of credit.
With the availability of these resources, and with a duration of 12 months, businesses in urban and rural areas in the productive, commercial and service sectors will be able to access financing under conditions favorable to their economic reactivation.
“We continue to support Nicaragua’s economic and social development by channeling resources to the MSME sector in difficult times, when the health crisis forces us to take bigger action by providing them with the tools they need to move on. forward, ”said CABEI Executive Chairman Dr. Dante Mossi.
The renewal of this line of credit to the intermediary financial institution PRODESA is part of the MSME Financial Sector Support Facility. In just one and a half years, this program has preserved and recovered 28,557 jobs in Nicaragua and supported the adaptation, solvency and transformation of 498 businesses, with funding of $ 66.8 million.
BCIE – Banco Centroamericano de Integración Económica published this content on 04 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 05 November 2021 22:17:07 UTC.