14.2 C

They Approve $100 Million Guarantees for Small Businesses



loan. The Finance Committee of the Legislative Assembly has approved the ratification of the Sovereign Guarantee Agreement for his $100 million loan 5733/OC-ES between the Development Bank of the Republic of El Salvador (Bandesal) and the Inter-American Development Bank (IDB).

This resource will be used for the Small and Medium Enterprise Credit Access Program (Mipyme), and it is estimated that around 4,000 of these companies will benefit various economic activities. Marlon Omar Herrera, director of the Treasury Department’s investment and public credit division, said the loans granted would “focus on productive lending through financial institutions.”

Congress granted approval of the guarantee on March 31, 2023, signed the agreement on May 16, 2023, and asked the legislature to ratify it.

Source: Diario Elmundo

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