Salvadoran MSMEs will have a virtual commerce platform to promote their enterprises internationally

San Salvador, September 19, 2024.- Expanding marketing opportunities for entrepreneurs and micro, small, and medium enterprises (MSMEs) in El Salvador is part of the objectives of the Non-Reimbursable Technical Assistance signed today between the Salvador del Mundo Foundation (FUSALMO) and the Central American Bank for Economic Integration (CABEI), through the DINAMICA II Initiative, which is implemented with funding from the European Union and the Government of Germany, through KfW.

With the US$57,805 in funding, FUSALMO will strengthen the TRANSFORMA Emprende Plus platform, which will provide a virtual commercial space for entrepreneurs and MSMEs to sell their products in an agile manner. This platform will allow businesses to have a virtual stand that includes the exhibition of their products, online payments, and delivery methods. In addition, a query chat will be enabled to facilitate communication with customers.

Once the platform is up and running, a complementary mobile app will be developed to facilitate access to its users. In addition, as part of this technical assistance, FUSALMO will train 50 collaborators from the Santa Ana and San Miguel offices on the use and maintenance of the platform and the mobile app, with the aim of advising the 150 entrepreneurs and businessmen who will benefit from them; among them, 47% will be men and 53% women.

Through this support, the DINAMICA II Initiative demonstrates its commitment to the development of the entrepreneurial, business, and innovative ecosystem of the country, strengthening organizations such as FUSALMO that promotes the strengthening of capacities and skills of entrepreneurs and MSMEs in El Salvador.

About the DINAMICA II Initiative

The DINAMICA II Initiative is a tripartite effort between CABEI, the Government of Germany, through KfW, and the European Union, and is implemented in Central America with the objective of promoting and strengthening the development of the entrepreneurial ecosystem and the private sector, especially for new, young and/or innovative MSMEs.

Since 2019, in El Salvador, MSMEs have been supported with more than US$14 million in credits; more than 103 micro and small enterprises have been strengthened with non-reimbursable resources from small donations and more than eight Business Development Centers, through technical assistance. At the regional level, the Initiative has supported more than 2,000 MSMEs in Central America with more than US$58 million in loans, protecting more than 21,000 jobs.