In Costa Rica a law has been proposed that would benefit tourism businesses suffering from financial problems - caused by the 2008 crisis!! -, readjusting their debts and repurchasing and returning their lost assets.
EDITORIAL
Beyond the dark aspects of the bill - among them that it is not known who the beneficiaries are - its purpose seems rude and unfair to entrepreneurs who managed to overcome the crisis of the last decade through proper management and undoubtedly a lot of sacrifice, and who today have healthy companies.
Companies associated with the Chamber of Tourism will benefit from technical assistance by the Ministry of Economy.
The Ministry of Economy signed a joint action and cooperation agreement with the Salvadoran Chamber of Tourism (CASATUR), within the framework of the Inventa Platform, entitled: "Sector Cells Transfer."
The goal is mutual cooperation in formulating, managing and implementing projects related to Innovation and Technological Development of the tourism industry.
22 companies from the tourism sector have submitted their projects to the "Banco de Fomento Agropecuario", in order to receive funding.
So far, companies have asked for $1.2 million in loans for the tourism industry. These loans are called Creditur.
"Creditur grants resources for working capital and improvements to infrastructure for restaurants and hotels, as well as for the construction of new tourism-related facilities", reported Laprensagrafica.com.
SMEs from the tourism industry will receive financial assistance through a credit line operated by "Banco de Fomento Agropecuario" (BFA).
This credit line was created by request of the Tourism Ministry, and will be available this week.
Nora Mercedes Miranda de López, president of BFA, told Elsalvador.com: "The credit line will be available in BFA's 24 branches around the country, and is intended to finance new investments, purchases of machinery and equipment, and expansion projects".
Through the Millennium Challenge Corporation (MCC), $85 million have been allocated to promote investment in northern El Salvador.
The funds will finance MSMEs interested in developing projects that generate employment in various areas such as agriculture, catering and handicrafts.
Keny Miller, resident director of the MCC told La Prensa Gráfica: "This sector (MSMEs) is part of a growing country strategy and we see how it contributes to economic and social development."