El Salvador: $30 Million for Fedecrédito

The International Financial Corporation, part of the World Bank, will loan $30 million to Fedecrédito, for it to extend its loans to micro companies.

Thursday, June 17, 2010

Armando Rosales, president of Fedecredito, explained that the collateral of these loans will be the flow of remittances sent by Salvadorans living abroad.

“He added that the money will be disbursed gradually during the next three months and will be used to lend more to micro companies and low income families, which they serve through 48 credit associations and 7 workers banks”, reported And.es.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

$200 million Available for SMEs

May 2012

Fedecrédito is looking to grant $236 million more in 2012 than last year in order to expand its credit supply in El Salvador.

Fedecrédito system, focusing on the sector of micro and small businesses, aims to grant $236 million in loans in 2012, bringing its portfolio to $1,031 million.

Microfinancers in Panama

May 2012

The demand for loans for micro and small enterprises was around $900 million over the past two years and went largely unfulfilled.

Data from the Panamanian Network of Microfinancers (Redpamif in Spanish) show that specialized microfinance institutions granted in that period about $150 million in loans to micro and small enterprises.

El Salvador: Measures to Boost Construction Sector

March 2011

With the support of the Banco Multisectorial de Inversiones, the Chamber of Construction expects to boost the sector through the Financial System for Development.

Emphasis will be given to micro and small enterprises so that they can access credit for their projects.

"Angel Diaz, vice president of the Salvadoran Chamber of Construction, CASALCO, explained that until now small companies have had trouble accessing credit from international banks due to conditions and requirements needed in order to approve loans," stated the article in Lapagina.com.sv.

IIC Lends $20 Million to BAC El Salvador

July 2010

It is estimated that approximately 300 SMEs will benefit from this operation.

On July 20, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$20 million to El Salvador’s Banco de América Central S.A.

With this project, the IIC aims to provide BAC ES with medium-term funding on appropriate terms for channeling funds to eligible projects in El Salvador.

ok