Government establishes new development bank

Friday, September 23, 2011

El Salvador's government has approved a law to create a new state-run development bank.

The law restructures the current state lending entity, Banco Multisectorial de Inversiones, to give it a greater mandate to provide credit to target economic sectors, such as agriculture, as well as to provide credit to micro businesses.

The development bank will have initial capital of US$200mn, which will be raised through international loans and central bank obligations.

Start your 15 day free trial now!


Already a subscriber? Please, login