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.



More on this topic

Useless? Development Banking in Costa Rica

June 2013

The bureaucratic requirements contained in a bill advancing in Congress would continue to hamper access to credit for entrepreneurs.

A few days ago Congress ruled on the Law for Strengthening Development Banking, under which sureties are not required, interest would be low and deadlines for payment would be longer.

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.

Development Banking Law Approved in El Salvador

September 2011

The new Financial System Law to Promote Development aims to promote, with financial and technical support, development of investment projects.

A press release from the Legislative Assembly of El Salvador reads:

The Legislative Assembly approved on 22 September 2011, with 78 votes, 103 items that make up the new Financial System Law for the Promotion of Development, which aims to promote, with financial and technical support, the development of viable and profitable investments in the country’s productive sectors.

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.