Tripartite initiative between CABEI, KfW and EU helped promote entrepreneurship and responsible finance among more than 300 Guatemalans

Guatemala City, August 16th, 2022.- Two conditions that contribute to the success of micro, small, and medium-sized enterprises (MSMEs) are responsible financing and support for entrepreneurship, which is why Banco Promerica's "My Dream, My Business" program was partially financed in Guatemala as part of the Central American MSME Ideas Development and Acceleration Initiative (DINAMICA).

Through a tripartite initiative between CABEI, the Government of Germany through KfW and the European Union as part of its Latin American Investment Facility (LAIF), CABEI granted US$88,800 in non-reimbursable technical cooperation, which was recently completed and consisted of the creation and implementation of a financial education program that trained participants in responsible and transparent financing, enabling them to minimize risks and promote the growth of their businesses.

"We continue to support the economic reactivation of MSMEs in the region, which is why we are pleased to have completed this initiative that we have been working on for several years. More than 365 clients and collaborators of Banco Promerica have benefited from the training program and the manuals are available to anyone who wants to learn about finance and entrepreneurship," said CABEI's Executive President, Dr. Dante Mossi.

In addition to the training sessions for Banco Promerica employees and customers, a Financial Education web portal and a document entitled "Responsible Finance Manual" and "Entrepreneurship Manual" were also created and made available to the public at http://www.aprendiendoconpromerica.org/.