Summary of Anticipated Development Impacts
- Strengthen local MSMEs and value chain: Fedecrédito will use FinDev Canada’s loan to primarily support its 55 financial institution members that in turn on-lend to their respective MSME clients in El Salvador.
- Support local employment and economy value-add: Fedecrédito supports thousands of MSMEs in El Salvador and the individuals they employ. As an employer, Fedecrédito offers benefits including insurance (health, life, vision, dental), a pension, parental leave, vacation days, performance bonuses, training opportunities for advancement, educational loans and scholarships, which exceed requirements stipulated by national law.
- Financial and non-financial services for MSMEs: Their financial products include micro- and agricultural loans, savings accounts, and both credit and debit cards. Fedecrédito serves its MSME clients through several channels, including 726 access points across 195 municipalities.