CABEI and ADEL La Unión signed two cooperation agreements. / Courtesy
The Central American Bank for Economic Integration (CABEI) and the Association of Economic Development Agencies of the Department of La Union (ADEL La Union) signed two non-refundable technical assistance contracts for $194,900.
Both agreements were developed through the DINAMICA II initiative with support from the European Union (EU) and the German Government through KfW Bank.
The financial institution has indicated that these funds are expected to develop the capabilities and skills of ADEL La Unión’s business advisors.
At the same time, 10 micro, small and medium enterprises (MSMEs) will be supported in management, production and technical areas.
CABEI notes that $12 million in loans have been granted to MSMEs in El Salvador through the DINAMICA II strategy.
This initiative was born to promote business and economic development in Central American countries and the Dominican Republic.
El Salvador has a “special window” for funds authorized by the EU to provide technical assistance, seed capital and donations.
In this way, 79 micro-enterprises (mypes) were granted non-reimbursable resources and $6 million in technical assistance was allocated to strengthen their business development centres.