El Salvador: $25 million to Finance SMEs

Under an agreement between the Davivienda Bank and U.S. AID long-term loans to small and medium enterprises will be enabled.

Tuesday, December 10, 2013

The U.S. Agency for International Development (USAID) and Banco Davivienda Salvadoreño S.A. signed an agreement pledging to promote access to finance for Salvadoran SMEs in order to improve productivity and exports, one of the goals of the Partnership for Growth between El Salvador and the United States.

The agreement will run for eight years, the goal is to increase the availability of credit for small and medium businesses as well as motivate Davivienda Bank to grant loans with broader payment terms.

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The OPEC Fund for International Development (OFID) and Banco Ficohsa have signed a credit line to support continued access to long-term financing by SMEs.

A press release from the OFID reads:

The OPEC Fund for International Development (OFID) and the Banco Financiera Comercial SA Honduras (Banco Ficohsa) yesterday signed an agreement for a line of $10 million credit to support continued access to long-term financing by Small and Medium Companies (SMEs) in Honduras.

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