Development Banking Relaunched in El Salvador

Banco Multisectorial de Inversiones will become the Development Bank, with current capital of $ 202 million.

Wednesday, February 2, 2011

The new Development Bank aims to attend productive sectors which are not served by commercial banks and expects to receive capital for up to $ 1.200 million through bond issues in domestic and international markets and also financing from the Central American Bank for Economic Integration (BCIE) and other multilateral agencies.

"According to Ricardo Flores, current president of BMI, the eight main sectors to which they advocate the development are: agriculture, agribusiness, industry, services, energy, exports, students, tourism, housing, productive infrastructure, local governments and micro and small enterprises," reportes the article in Laprensagrafica.com.



Market Intelligence

Everything about exports and imports in El Salvador.

Top companies - Quantities, amounts and prices.

more info

More on this topic

Productive Projects Pending Credit

May 2012

The Development Bank of El Salvador has received about 700 investment prospects recently and is preparing to grant loans starting from this May.

"We have received more than 700 potential prospects, some of which some are already in advanced stages," said Oscar Lindo, chairman of the Development Bank of El Salvador (BANDESAL) to Laprensagrafica.com.

El Salvador: Credit to MSMEs

February 2012

The start of 2012 will see the launch of the new Development Banking System, which has $200 million in credit to support micro, small and medium enterprises.

Bandesal has, to start off with, $200 million for small and medium enterprises."However, we are aiming later on to provide funding for large enterprises, preferably those that require large investments such as construction and agricultural industries, said the technical secretary of the Presidency, Alexander Segovia," in an article by from Daniel Gonzalez Choto a ElFinancierocr.com correspondent in Costa Rica.

Salvadoran Development Banking Law Comes into Effect

January 2012

From January 19th with the entry into force of the law to encourage development the Banco Multisectorial de Inversiones (Multisectoral Investment Bank) will operate as Banco de Desarrollo, (Development Bank or BDES).

The bank can then direct lending to small and medium enterprises (SMEs). At the moment it can only do so through lines opened by private banks.

Costa Rica: Development Banking Lent $2.45 Million

June 2009

These credits have been distributed among 243 projects of micro and small entrepreneurs.

By the end of May, 51% of the loan has gone to the agriculture sector, 19% to commerce, 14% to cattle raising, 6% to services, 6% to dairy production, 3% to industry y 1% to tourism.

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


ATENAS: 13 HA, 1.5 KM from Highway 27, US$ 11/m2

Prime Lake Front Real Estate near San Jose, CR Now Available for Development, an extraordinary commercial real estate opportunity.
A lush 32 acre/13 hectare plot located just West of the...

Stock Indexes

(Aug 30)
Dow Jones
-0.07%
S&P 500
0.14%
Nasdaq
0.38%

Commodities

(Aug 30)
Brent Crude Oil
51.370
Coffee "C"
127.05
Gold
1,310
Silver
17.435