$4.5 million for small and medium companies in Nicaragua
The rural small and medium business program (Pymerural) is expected to provide added value to the national production.
Monday, February 2, 2009
LA PRENSA.com.ni reports on its website: "The goal of the program includes the creation of at least 1,400 micro and small companies and the creation of 2,000 direct jobs throughout the value chains in the agro-industrial and tourism sectors. With this they hope to reach $25 million in sales, said Ivan Rodriguez, regional head of Pymerural."
Over 50% of SMEs fail before they are three years old, 90% are no more than five years old and only 10% survive.
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.
Some 500 micro, small and medium enterprises from the tourism area will be trained on business management over the next three years.
The IFC approved a loan for Financiera Integral, designed to provide credit to Small and Medium Enterprises.
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