Development Bank in El Salvador Starts Operations

The Development Bank in El Salvador has received about three hundred projects which it could potentially fund, in the category of medium and small businesses, and will start analyzing them next month.

Friday, March 16, 2012

Oscar Lindo, chairman of the state agency, indicated that they have yet to define service guidelines between the Bandesal and private banks. Once they have been defined analysis of potential funding will start.

"The credit lines, terms and grace periods will be established according to the type of project in which capital will be invested.

Lindo added that interest rates will be adjusted to match those in the local market in order to compete with those offered by the private financial system," reported Elmundo.com.sv

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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

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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.

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