According to a press release from the IFC, the initiative will help create jobs and promote economic growth in Honduras.
It is hoped that the joint project between Atlántida Bank, the IFC and supported by the Netherlands, will make more than $30 million in funds available to Honduran micro and small enterprises (MSEs) over the next five years.
Since 2010, the bank has worked closely with IFC to improve its efficiency with the IFC reporting 25% reductions in processing time for loans, new products and a 50% increase in staff dedicated to MSEs.
Source: International Finance Corporation
More on this topic
January 2011
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."
September 2009
Through a loan with BCIE, "Génesis Empresarial" foundation will expand its credit lines.
The foundation will use these resources in giving loans to SMEs and communal rural banks.
Édgar Ballsels, director of the Central American Economic Integration Bank (BCIE), told newspaper Prensa Libre that the entity "has decided to extend credit lines for small and medium enterprises...".
February 2009
The Banco Popular will make the sum available for MSMEs that lack the collateral needed for a credit line.
Andrey Monge writes in Elfinancierocr.com: "The funds are part of the institution's net income, and will be assigned through an auction of guarantees, to be executed on February 20th by the Fund for the Development of Micro, Small and Medium Enterprises (Fodemipyme)"
March 2010
By February, the system has placed 55% of its available funds, benefiting 1.775 small and medium companies.
The beneficiary companies broke down as follows: 94% micro companies, 5% small and 1% medium enterprises.
$24.5 million were lent in February, up 7% from January, when $23 million were placed, according to newspaper La Prensa Libre.
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