Recognizing the importance of micro, small, and medium enterprise (MSME) development to El Salvador’s economic and political stability, USAID helped to create the Program for the Promotion of Small and Microenterprise (PROPEMI) in 1986. PROPEMIs mission was to promote the development of the MSME sector in El Salvador by facilitating access to credit, training, and technical assistance for small-business owners.
After more than 20 years of evolving activities, USAID’s assistance in the sector came full circle when the Bank of Central America (BAC) acquired PROPEMI’s loan portfolio. Thanks to USAID assistance, BAC recently repositioned itself as a provider of financial services to small and medium businesses. As a result of the acquisition, PROPEMI’s MSME clients will gain access to a full range of 40 financial products and services. This development highlights USAID’s contributions to the evolution of El Salvador’s financial sector.
