CABEI channeled US $ 61 million for Panamanian MSMEs

Panama City, September 7, 2021.- To meet the financial needs of Panamanian micro, small and medium enterprises (MSMEs), as well as to help them recover and protect around 940 jobs, the Central American Bank for Economic Integration (CABEI) disbursed $ 61 million August 2020 to this day as part of its MSME Support Facility program.

“In the case of the MSME sector, CABEI has provided options to access working and investment capital to reactivate and revitalize their businesses. We invite companies to approach allied financial institutions of the Bank to use these resources on favorable terms, ‘ said CABEI Executive Chairman Dr Dante Mossi.

The Facility has made available to the financial sector a wide variety of products such as a technical assistance fund, a program of partial credit guarantees free of charge for intermediary banks and their clients, as well as grants in the form of capital. seed, contributing to Panama’s economic recovery.

It also responds to the demand for resources from the financial sector to expand coverage of MSMEs and provide them with sufficient liquidity to meet short-term needs. Eligible sectors are notably tourism, industry, services and agro-industry.

Currently, four financial institutions have accessed the Facility in Panama: Costa Rica International Bank, SA (BICSA) for US $ 15.0 million; Savings bank for 10.0 million US dollar; Allied Bank SA for 6.0 million US dollars; and Global Bank for $ 30.0 million.

Disclaimer

BCIE – Banco Centroamericano de Integración Económica published this content on September 07, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 08 September 2021 01:01:02 AM UTC.

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