The signing will take place within the framework of the start of the 10th Microenterprise Forum
Authorities from the Inter-American Investment Corporation (IIC), an IDB agency, and five Central American banks will sign an agreement next Wednesday in San Salvador to support small and medium-sized businesses in the region, official sources reported today.
The IIC stated in a press release that the signing will take place within the framework of the start of the X Microenterprise Forum, which will be held in the Salvadoran capital with the sponsorship of the Inter-American Development Bank (IDB).
The 10th Forum will be officially inaugurated on Thursday by the President of El Salvador, Elías Antonio Saca, Queen Sofía of Spain and the President of the IDB, Luis Alberto Moreno, the organizers said.
According to the IIC statement, Wednesday's agreement will seek to "expand access to bank credit for small and medium-sized enterprises in the region."
The signatories of the document will be the general manager of the IIC, Jacques Rogozinski, and directors of Banco Improsa, of Costa Rica, HSBC of El Salvador (formerly Banco Salvadoreño), Banco Internacional of Guatemala, Banco del País of Honduras and Banco de Finanzas of Nicaragua.
Through the agreement, "the IIC will transfer to the five banks the FINPYME methodology (Innovative Financing of SMEs), a diagnostic tool to evaluate small and medium-sized enterprises seeking bank credit," it was reported.
This process "allows for the detection of strengths and weaknesses in the management of SMEs so that they can, with a plan to improve competitiveness, increase their chances of accessing bank credit."
The IIC is part of the IDB and its functions are geared towards financing small and medium-sized enterprises.
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