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Updated On: Tuesday, 18 June 2019

Women entrepreneurs access creditfor the procurement of work vehicles

Content by: www.bcie.org

Tegucigalpa, April 12, 2019.- The Central American Bank for Economic Integration (CABEI ) in conjunction with Financiera CAFSA SA of Costa Rica promotes economic and productive development in the country by supporting women entrepreneurs in the procurement of work vehicles in order to foster the growth of the Micro, Small and Medium Enterprise (MSME) sector.



CABEI Country Manager for Costa Rica, Mauricio Chacón, informed that, “The credit funds come from CABEI's Regional Business Financing Program for Women Entrepreneurs (FEM), which aims to promote the empowerment and economic autonomy of women and contribute to the process of regional development and economic integration regarding gender in benefit of the region’s women entrepreneurs."

He added that, "FEM seeks to meet the entrepreneurial investment needs of women entrepreneurs, representing an effective tool to promote and consolidate the position of women in the Costa Rican market in order to provide opportunities for progress, competitiveness, equity and inclusion of business activities."

For his part, CAFSA Credit Manager, Sergio Barquero, explained that, "Through this credit offer, we aim to help these women entrepreneurs and MSME owners acquire an efficient and optimal means of transportation. We are betting on them and at the same time, supporting an unattended sector, which demands the same opportunities as everyone else."

In April, Financiera CAFSA has granted more than US$500,000 in preferential loans to women entrepreneurs, where the paperwork is facilitated to the customers, certifying their income free of charge, visiting the enterprise to provide advice and understanding the way the MSME works by analyzing income streams. In this way, microentrepreneurs can opt for a new vehicle that will serve as a work tool to increase their production levels.

The FEM program has the support of different entities of the Central American Integration System (SICA), among them: the Council of Women Ministers of Central America (COMMCA), the Secretariat of Central American Economic Integration (SIECA), CABEI, the Regional Center for the Promotion of Micro and Small Enterprises in Central America (CENPROMYPE) and additional specialized support entities, such as UN Women and the Central American Microfinance Network (REDCAMIF).

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