World Bank Group Approves Financing to Boost Credit Access for Micro, Small and Medium Enterprises and Job Creation in El Salvador
El Salvador, April 1 -- The World Bank Group's Board of Executive Directors approved financing to support El Salvador in expanding credit access for Micro, Small and Medium enterprises (MSMEs), with the aim of strengthening job creation and promoting more inclusive and sustainable economic growth.The Enhanced Financial Intermediation for Jobs Project will advance MSMEs access to financing in sectors with high job-creation potential, such as tourism. Approximately 5,000 MSMEs are expected to receive loans, contributing to the creation of 8,300 new or improved jobs, of which nearly 30 percent would benefit women. The operation, to be implemented by the Development Bank of the Republic of El Salvador (BANDESAL), will strengthen financial inter...
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