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.
Employers have proposed creating an institute for development representing the private sector and under the Presidency of the Republic in order to serve the needs of the sector.
The government is to make a diagnosis of the activities in the sector in order to review and amend the Law on Promotion, Creation and Development of Small and Medium Enterprises and adjust it to the needs of women, who claim there is a legal gap in the attention they receive from the state.
Its predicted that a thousand jobs will be created by the Businesses and Employment Program of U.S. Agency for International Development in 2013 from the support provided to small and medium businesses in Nicaragua.
Danilo Cruz de Paula, said that since 2009 4,700 have been created in small and medium enterprises (SMEs) with financial support equivalent to $20 million, contributing to increased sales and exports equivalent to $24.4 million.
The demand for loans for micro and small enterprises was around $900 million over the past two years and went largely unfulfilled.
Data from the Panamanian Network of Microfinancers (Redpamif in Spanish) show that specialized microfinance institutions granted in that period about $150 million in loans to micro and small enterprises.
Another part of the demand, some $120 million, was attended to by other financial market participants through consumer loans.
The BBVA Foundation and AMPYME have agree to the first private-public partnership for microfinancers in Panama.
The Microfinance Foundation of the Spanish bank BBVA has teamed up with the Authority for Micro, Small and Medium Enterprises in Panama to promote the use of financial products from these companies.
The purpose of the alliance is to bring these products to companies that usually have no access to banking services.
The BCIE has granted a credit line to Cathay Bank to support MSME’s, as well as international trade and housing in Costa Rica.
A press release by the Central American Bank for Economic Integration (BCIE) reads:
The Central American Bank for Economic Integration (BCIE) has granted a loan to Banco Cathay allowing it to expand its global credit line to $10.5 million in order to support Micro, Small and Medium Enterprises (MSMEs) as well as international trade and housing Costa Rica.
The loan will benefit more than 1,000 producers by providing access to co-financing for enhancing trade capacity.
A press release by Inter-American Development Bank (IDB) states:
The Inter-American Development Bank (IDB) has approved a loan of U.S. $30 million to El Salvador for the program of Development Support Production for International Integration, which will increase the ability of micro, small and medium enterprises (MSMEs) to participate in national, regional and global value chains.
Guatemala’s sixth largest bank, Bantrab (Spanish acronym for Worker’s Bank), landed a credit line from the German Development Bank (DEG).
Mauricio Álvarez, Bantrab’s head of strategic planning, explained that the funds will be loaned to small and medium enterprises from rural and urban areas.
The bank has granted loans between $131 and $653 for small enterprises and up to $26,132 for medium sized ones.
The project will improve productivity of MSMEs in tourism and agribusiness.
For this, the World Bank will invest U.S. $ 32 million to strengthen their added value products, quality and integration to national and international markets.
"Micro, small and medium businesses generate most jobs in Guatemala, this project will help promote growth and increase their productivity," said Felipe Jaramillo, World Bank Director for Central America.
Co-Invierto announced the second round of the program which will benefit some 220 tourism SMEs.
Ian Colonel, project manager, said that for this second call $ 600 000 are available, funded by the Dutch government and Grupo Pellas.
Laprensa.com.ni states "The Co-Invierto program is to provide financial resources to small and medium tourism enterprises in order to improve the quality of services they offer.
The government signed a technical and financial assistance treaty with Germany for $ 64 million.
The funds will go to social projects on environment and governance, housing and support programs for Micro, Small and Medium Enterprises (MSMEs).
"The Honduran Minister of the Presidency, expressed satisfaction for completing successfully the intense negotiation process between both economic technical teams, which led to the signing of a cooperation agreement for $ 64 million," reported website Proceso Digital.
Government officials announced a $ 4 million fund to strengthen performance of MSMEs.
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."
By year's end, the draft would be ready for submission to the National Assembly in early 2011.
The National Commission for Micro and Small Enterprises (CONAMYPE) went through the last stage of consultations for the proposed law for micro and small enterprises (SMEs).
During this phase, meetings have been held with trade associations, financial intermediaries and others, and is the latest step in presenting the bill to the Legislature later this year or early 2011. "We would expect a good reception by the Legislature so this law can become a reality by middle of next year, or before," said Ileana Rogel, Director of CONAMYPE to Laprensagrafica.com.
The project seeks to strengthen small and medium producers of agricultural technology and aid 5.000 small farmers.
The funds will be administered by the Foundation for Technological Development for Agriculture and Forestry of Nicaragua (FUNICA).
Laprensa.com.ni reports, "Resident Director of the Swiss Cooperation Agency in Central America (SDC), Peter Bischof, was confident that this second phase will achieve results similar to the initial stage of the project, which saw 45 companies and technology services attend to 22 thousand producers, bringing them affordable technology. "