Salvadoran Development Banking Law Comes into Effect

The bank can then direct lending to small and medium enterprises (SMEs). At the moment it can only do so through lines opened by private banks.

According to an article in Elsalvador.com "The BDES will have at its disposal approximately $300 million in capital, $200 million which it already possesses, $60 million from the Development Fund and $20 million from the Fondo de Garantías (Guarantee Fund).

The development bank will prioritize loans for micro and small businesses in the areas of tourism and power generation among other, according to the BCR president Carlos Acevedo."

Source: elsalvador.com

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