Mario Cerna, Vice Minister of Commerce and Industry told the media: "It is a state investment in micro, small and medium businesses looking to become more efficient, that is to reduce costs and produce more, but also implement technology in their production processes, including helping them to innovate their products."

The funds for 2011 will double the ones invested in 2010.

Source: elmundo.com.sv

More on this topic

Costa Rica: Promotion of SMEs centralized

December 2015

In an attempt to reduce costs and improve the use of resources devoted to the subject, a bill proposes integrating into a single institution the organizations dedicated to promoting entrepreneurship.

The aim of the bill is for the current bodies DIGEPYME, INAPYME, PRONAMYPE, FODEMIPYME, PROPYME and CONICIT to be integrated into a single entity and a with single fund to maximize resources, reduce paperwork and costs.

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The Bank of Costa Rica and the Foreign Trade Promotion Office are to launch a credit program for exports.

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Atlántida Bank to Help Honduran MSMEs

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The International Finance Corporation (IFC) has signed an agreement with the bank to develop its portfolio of products for small and micro enterprises.

According to a press release from the IFC, the initiative will help create jobs and promote economic growth in Honduras.

Another Crutch Factory

March 2011

Another initiative by the corporation of state officials to justify their salaries, at the expense of the over-used “support the SMEs” motto.

"The Costa Rican Ministry of Economy, Industry and Trade (MEIC) together with the President's Competitiveness Council, the Economic Commission for Latin America (ECLAC) and the Banking System for Development are driving the creation of a “seed money” funding system in order to support Small and Medium Enterprises (SMEs)."