$27 Million for Renewable Energy Projects
El Salvador's Multi Sector Investment Bank launched the "Renewable Company" program.
Thursday, August 20, 2009
The program is oriented to companies looking to develop renewable energy projects, or small business wanting to reconvert their companies to renewable processes. The bank (BMI) will finance up to 80% of the total investment.
IDB loan will help small and medium-sized enterprises expand export and attract foreign investment.
$4 million have been earmarked for the initial development of the so-called CDMYPES, or Centers for the development of Micro and Small Companies (SME).
DEG, the German Investment Corporation granted local bank "Banco de Los Trabajadores" (Bantrab) a credit line to lend to Small and Medium Enterprises.
The program was launch by the Association of Producer and Exporters (Apen), the organism which won the international contest by the EU for the internationalization of Small Businesses and for which they will received $1.5 million in financing.
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