Salvador Ifc Fedecredito Tender

The International Finance Corporation IFC a member of the World Bank Group forged an alliance with FEDECRDITO in El Salvador to strengthen companies led by women and enhance the business model oriented to this segment.The alliance was announced within the framework of International Womens Day this initiative will be focused on supporting FEDECRDITO to create a comprehensive value proposition to promote the economic empowerment of Salvadoran women entrepreneurs. This is the first advisory program within the Banca Mujer initiative in El Salvador which is supported by the Financing Initiative for Women Entrepreneurs We-Fi.IFC has been an ally of FEDECRDITO for many years and we are pleased to continue working hand in hand to launch innovative solutions that help promote greater inclusion closing the financial gap experienced by women business owners. The focus of this alliance is one of great interest for FEDECRDITO due to the fact that approximately half of our clients are women which reaffirms that the Womens SME segment has always played a primary role in our institution and we aspire to further deepen our relationship with our clients to help them achieve their goals. goals pointed out Macario Armando Rosales Rosa President and CEO of FEDECRDITO.In the first phase of the project FEDECRDITOs current business model and gender portfolio will be analyzed in order to then design a Womens Banking strategy that adjusts to and reflects the specific needs of female entrepreneurs in El Salvador. Parallel to the implementation senior management middle managers and service point personnel will participate in a gender intelligence training program to strengthen skills and internalize the strategy. Sanaa Abouzaid IFC Country Manager for Central America noted that the pandemic has disproportionately affected women who were already facing major challenges in accessing financing to grow their businesses. IFCs Womens Banking Program has proven successful in helping financial institutions around the world to improve profitability and expand their client base while promoting greater financial inclusion for women.Through the Banca Mujer program launched in 2010 IFC provides financing and technical advice to financial institutions in emerging markets that want to strengthen and expand their relationships with women clients and entrepreneurs. IFCs goal is to help these institutions do good business and expand access to financial services for women and entrepreneurs. To date Banca Mujer has a committed global portfolio of US 3.18 billion with 184 investment and advisory projects in 64 countries around the world. Of these figures Latin America and the Caribbean represents US 1.17 billion with 22 investment projects and 16 advisory projects.