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TaiwanICDF provides support to enhance financial inclusion in El Salvador

TaiwanICDF provides support to enhance financial inclusion in El Salvador

The International Cooperation and Development Fund (TaiwanICDF) and SAC Apoyo Integral, S.A. (Integral), a microfinance institution operating in El Salvador, entered into a loan agreement on July 2, for the enhancement of financial inclusion in El Salvador. The TaiwanICDF’s financing of up to US$3 million will facilitate the expansion of Integral’s microfinance business and ultimately contribute to the development of local microbusinesses.

The TaiwanICDF and Integral share the common goal of creating a more inclusive financial environment for El Salvador. Built upon the long-term partnership between the two countries, the cooperation is believed to contribute to the economic and social development of El Salvador.

Integral is one of the few formal financial institutions in El Salvador dedicated to providing micro-financial services. Also, as the largest savings and credits cooperative company in El Salvador, Integral aims to facilitate the sustainable development of its micro and small enterprise clients. Acknowledging the essential role that micro and small enterprises play in the country’s economy and the obstacles they face in terms of acquiring financial support, the TaiwanICDF is partnering with Integral to address this issue by providing the US$3 million loan facility. The loan will be used for Integral’s microfinance business expansion and therefore benefit rural and informal sector customers.

Integral provides micro and small enterprises in El Salvador with a wide range of financial products and services, including credits tailor-made for different purposes and customer sizes, savings of different minimum opening amounts, and also micro insurances. As a financial institution committed to backing its clients, Integral also conducts education and training programs. Through Integral’s nationwide network of branches, the TaiwanICDF wishes to reach out across El Salvador and enhance financial inclusion in the country.

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  • Date:2018/7/2