The UPAN Business Development Center in El Salvador will strengthen its services in digital and business transformation

Article originally published on CABEI's website on 25/10/2024. LACIF contributes to the DINAMICA II Initiative through an investment grant and technical assistance.

The Central American Bank for Economic Integration (CABEI), within the framework of the DINAMICA II Initiative that is executed with financing from the Government of Germany, through KfW, and the European Union, signed a Non-Reimbursable Technical Assistance agreement with the Universidad Panamericana de El Salvador (UPAN), whose objective is to strengthen capacities to improve the products and services offered by the Business Development Center for Micro and Small Enterprises (CDMYPE) of this University.

The Technical Assistance, valued at US$58,000.00, includes the training of 19 business advisors from CDMYPE-UPAN (6 men and 13 women) in digital technology, business training and development, as well as the formulation and management of business projects. This will allow for providing attention in accordance with the demands and trends of the current business environment, improving the productivity and competitiveness of more than 300 startups and MSMEs in the Department of San Vicente.

As part of this support, the Center for Business Development of Micro and Small Enterprises will enable an online store that will be made available to startups and MSMEs, with the aim of facilitating their marketing process. This application, in addition to offering a digital marketing window, will allow for monitoring sales and impact indicators such as job creation and access to new markets.

The Non-Reimbursable Technical Assistance provided to CDMYPE-UPAN is part of the financial instruments offered by the DINAMICA II Initiative, which benefits entrepreneurs and new, young, and innovative MSMEs or those with development potential that wish to strengthen their technical and commercial skills, contributing to economic development and poverty reduction in Central America and the Dominican Republic. To date, with resources from the DINAMICA II Initiative, more than 2,000 MSMEs in the region have been supported by granting more than US$58 million in loans.