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Mitur and BFA Sign Agreement to Help Finance Rural Tourism
SAN SALVADOR, El Salvador, Jan. 30 PRNewswire — The Minister of Tourism and Chairman of the Salvadorean Tourism Corporation (CORSATUR), Ruben Rochi, and the Chairman of the Agricultural Development Bank (BFA), Guillermo Funes Araujo, signed today an Inter-Institutional Agreement with which to provide financing for rural agricultural and ecotourism and boost the economic development of El Salvador's tourism sector.
The two institutions agreed to cooperate with each other to strengthen the work of tourism investors. The Agricultural Development Bank has created a new Credit Line for Rural Tourism available to micro and small entrepreneurs interested in investing or expanding their tourism projects.
According to the tourism minister, this support is the result of negotiations on the part of the ministry to carry out the 2014 National Tourism Plan (PNT), which already has strategic guidelines in place to promote tourism and seek financing and other incentives for the industry. The funds for this new credit line come from the Multi-Sector Investment Bank (BMI), the Central American Economic Integration Bank (BCIE), and other sources.
Minister Rochi recalled that in March 2007, the ministry he oversees signed an agreement with BMI and the Salvadorean Micro and Small Enterprise Commission (CONAMYPE) to establish a credit line for businesspeople in the tourism sector in general, but which will provide for training and technical assistance purposes as well. The line of credit is still available for those interested in investing in the tourism sector.
BFA's chairman said that as part of support to the sector, his organization has already granted initial financing for tourist projects of clients located in various Salvadoran cities.
ABOUT EL SALVADOR:
In Latin America, El Salvador is one of three "investment grade" nations, according to the risk evaluation company MOODY's, and the seventh most competitive.
In Central America, El Salvador has the most modern road system, the best airport infrastructure, and the second best telecommunications system, making it a leading, modern and dynamic country."
SOURCE MITUR; CORSATUR
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