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.



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.

WB Lends $250 Million to El Salvador

January 2010

The resources are earmarked for municipal infrastructure projects, social initiatives and strengthening the Treasury Ministry.

Municipalities will receive $80 million to invest in infrastructure projects and production enhancement endeavors.

La Prensa Grafica reported that $100 million are earmarked for strengthening the Treasury Ministry, to assist in implementing the tax reform in effect since January 1st.

CABEI To Loan $1 Billion to Central America

December 2009

In 2010, the Central American Bank for Economic Integration (CABEI), will lend $1.038 million for development projects.

$370.8 million are earmarked for Costa Rica, $199.8 million for El Salvador, $173.2 million for Guatemala and $114.9 million for Nicaragua.

As for Honduras, Alfredo Ortuño, CABEI's director, explained that "...disbursements are on hold until the Central American Integration System (SICA) revokes a ruling enacted after the Honduran coup d'état. Nevertheless, the bank has earmarked $123.6 million to finance projects in the country".

$20 Million for Small and Medium Sized Businesses in El Salvador

June 2009

With a credit from the BID, Banco Agricola will expand its loan program for micro, small, and medium sized businesses (MiPyMEs acronym in Spanish).

“The approval of the loan from the Inter-American Development Bank (BID acronym in Spanish) to Banco Agricola allows us to offer resources that are currently available to meet the needs of the credit market in El Salvador.

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