Salvadoran enterprises to improve their competitiveness with support from the DINAMICA II Initiative

San Salvador, August 28, 2024.- For US$109,026.54, the Central American Bank for Economic Integration (CABEI), through the DINAMICA II Initiative, which is executed with financing from the Government of Germany, through KfW, and the European Union, signed a Non-Reimbursable Technical Assistance Agreement with the Fundación Gloria Kriete to implement the "Emprendiendo con éxito" project.

This project seeks to improve competitiveness, develop business skills, advance the economic and financial sustainability of micro-, small-, and medium-sized enterprises (MSMEs), create jobs, and promote entrepreneurship. In addition, the strengthening of the business fabric is expected to benefit not only MSMEs, but also to have a positive impact on the country's economy through job creation and the promotion of innovation.

The enterprises benefiting from the project were selected after an exhaustive diagnostic that included, among other aspects, their stage of business development, social and environmental impact, growth and scalability potential, and implementation capacity.

The seven selected enterprises will receive technical assistance, according to their needs, to establish and grow their businesses by strengthening their entrepreneurial skills. "Emprendiendo con éxito" will promote the adoption of innovative technologies and practices for MSMEs to improve their productivity and competitiveness in the business market. More specifically, the enterprises will be advised on technological development, financial planning, legal counsel, digital marketing, and branding.

Through the support that the DINAMICA II Initiative provides to the Fundación Gloria Kriete, common objectives are achieved by strengthening the country's entrepreneurial and innovative ecosystem, closing gaps between market demands and the capabilities of MSMEs by providing them with tools and specialized knowledge to improve their business skills.