The program is called Tourism Development in South West Nicaragua, and is funded by the Dutch government and the "Centro Empresarial Pellas" Foundation. 500 SMEs will be chosen to participate, among hotels, restaurants, food suppliers, tour operators and agricultural tourism.
"This project will engage in training programs focused in strengthening SMEs administration, developing the value chain and fostering promotion and marketing of the touristic destinations", published LaPrensa.com.ni.
The project will improve productivity of MSMEs in tourism and agribusiness.
For this, the World Bank will invest U.S. $ 32 million to strengthen their added value products, quality and integration to national and international markets.
"Micro, small and medium businesses generate most jobs in Guatemala, this project will help promote growth and increase their productivity," said Felipe Jaramillo, World Bank Director for Central America. "Promoting sustainable growth and productivity is one of the World Bank´s priorities for the Partnership Strategy with Guatemala," he added.
The government's plans include increasing training programs and easing access to banking credit for SMEs.
The authorities will also work in regulating informal businesses, for them to be able to access SME benefits.
"... the benefits of formality, like registering their brands and inventions in the National Registry...; we will create one-stop processes to speed up paperwork on the different government entities involved in starting and operating a new company...", reported Elsalvador.com.
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