"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.

Although many of these prospects are not themselves credit applications, Lindo said the bank could begin lending from the current month.

"In order to channel funds to the productive sectors, the bank has signed several agreements with financial institutions, both public and private, among which are Banco de Fomento Agropecuario (BFA) and Banco Hipotecario. The full list will be announced on May 16," reads the article.

"These institutions will serve as administrators of the Fondo Salvadoreño de Garantías (FSG or Salvadoran Guarantees Fund) and the Fondo de Desarrollo Económico (FDE or Economic Development Fund), said Lindo".

Source: laprensagrafica.com

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Delays to the expected legislative changes to the Law of the System for Banking Development (SBD) now add up to 5 months.

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