A press release from the Ministry of Economy of El Salvador reads:
Productive Development Fund (FONDEPRO) of the Ministry of Economy has made available to businesses, this January 20th , a portfolio of funds which are ready to be disbursed during the current year in order to improve competitiveness and create economic impact in El Salvador.
Some of the strategic sectors prioritized by the MINEC for receiving these funds are: food and beverages, chemicals, pharmaceuticals, textiles and clothing, tourism and specialized services, among others.
According to Economy Minister Hector Dada, some of the joint venture business lines who can apply are: Quality and Productivity, Innovation and Technology, Supply Chain to Value and Associative Approach, Market Development and Dynamic Entrepreneurship: Capital Seed.
He added that FONDEPRO is a fund that allows non-refundable partial co-financing grants that seek to promote the competitiveness of Micro, Small and Medium Enterprises (MSME) in El Salvador.
Those eligible to apply to the Fund are:
Natural or legal persons.
Salvadoran companies.
Those engaged in production and marketing of goods / services Salvadorans.
Located in any part of El Salvador.
Having up to date financial information.
Source: Ministry of Economy (El Salvador)
More on this topic
May 2012
The Development Bank of El Salvador has received about 700 investment prospects recently and is preparing to grant loans starting from this May.
"We have received more than 700 potential prospects, some of which some are already in advanced stages," said Oscar Lindo, chairman of the Development Bank of El Salvador (BANDESAL) to Laprensagrafica.com.
November 2011
The International Finance Corporation (IFC) has signed an agreement with the bank to develop its portfolio of products for small and micro enterprises.
According to a press release from the IFC, the initiative will help create jobs and promote economic growth in Honduras.
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."
October 2011
The Ministry of Economy has announced the availability of non-refundable co-financing line entitled: "Dynamic Start Up: Seed Capital."
A press release from the Ministry of Economy of El Salvador reads:
The Ministry of Economy (MINEC), through the Productive Development Fund (FONDEPRO) on October 12 announced to businesses, support institutions for start-ups, and the general public, the availability of a co-financed NON-REFUNDABLE line called: "Dynamic Start Ups: Seed Capital" with the aim of promoting economic development in the country, supporting innovative projects with growth potential, and competitive advantages.
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