Guatemala, September 8, 2016. - The Central American Bank for Economic Integration (CABEI) signed a US$600,000 financial cooperation agreement in the framework of the Regional Financing Program for Women Entrepreneurs (FEM) with Banco Promerica S.A. to support the introduction of gender issues into the regional development and economic integration process.

This cooperation effort stems from the axis of economic autonomy of the Regional Equality and Gender Equity Policy of the Central American Integration System (PRIEG) and is in line with the CABEI Gender Equity Policy and the scope of the different Gender Equity Policies approved by each of the participating institutions.

The Regional FEM Program is specifically designed to meet the credit needs of women through a differentiated financial program that supports women entrepreneurs, especially those located at the base of the economic pyramid. It also seeks to promote and strengthen the position of women in the labor market by providing advancement opportunities to the most vulnerable groups.

In this sense, the Coordinator of the CABEI Financing for the Majority Unit, Mr. Sergio Aviles, explained that the program has available resources to finance projects through Central American financial institutions for investment in working capital, fixed assets, productive housing and commercial premises. The beneficiaries could be women who wish to undertake a business (new or installed), women who own small and medium enterprises and MSMEs with women partners that own the majority of the equity.

The Regional FEM Program is a US$10.0 million joint financial cooperation initiative of CABEI, SIECA, the Regional Center for MSME Promotion in Central America (CENPROMYPE), UN Women, the Central American Microfinance Network (REDCAMIF) and the International Trade Center (ITC).