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MSME Clearinghouse: Newsletter |
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COVID-19 Policy Responses (as of September 16, 2020): |
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This is the sixth special edition of the OAS MSME Newsletter dedicated to measures recently announced by OAS Member States to mitigate the economic
impact of the COVID-19 pandemic on micro, small and medium-sized enterprises (MSMEs). As we highlighted in the first edition of March 31, 2020, the
policy responses vary from country to country and are specific to the economic circumstances and public health of each Member State. Given that every
day produces new developments, this sixth inventory is in no way exhaustive.
Argentina
The Government of Argentina introduces tools to promote the development of exporting SMEs
The Foreign Ministry, together with the Ministry of Productive Development and the Argentine Agency for Investments and
International Trade, presented a program of public policies and tools aimed at expanding the country's exporter base and
promoting Argentine exports.
Barbados
Minister of Energy, Small Business and Entrepreneurship address for the launch of Small Business Week 2020
M.P. Symmonds announced that the Ministry of Energy, Small Business and Entrepreneurship will be launching a National Financial Literacy
initiative, which is intended to facilitate the sustainability and the life-long success of businesses, individuals and households.
Brazil
SEBRAE offers tool on how MSMEs can react to the crisis caused by COVID-19
The website includes tips and information on how to do good financial management and minimize the impact of the crisis.
Chile
Government launches aid for SMEs in conjunction with BANCOESTADO
The program includes subsidies of up to $ 3 million from Sercotec so that SMEs can finance materials to implement protocols
and sanitary safeguard measures to face the coronavirus, as well as minor works, materials, merchandise, payment of rents,
salaries and basic services.
Colombia
Colombia Productiva and Icontec launch a project to support the reactivation and implementation of biosecurity in MSMEs
With the intention of training companies that advance in their process of reactivation and normalization of their activities,
Colombia Productiva, entity of the Ministry of Commerce, Industry and Tourism; and ICONTEC, launched ‘Unstoppable, Companies
that advance with biosafety and productivity’.
This project will develop several actions for the benefit of entrepreneurs. Support and specialized technical assistance will
be offered to 480 micro, small and medium-sized companies of any sector and department, focused on four lines of service, to
meet the needs arising from the contingency caused by Covid-19: biosafety, business continuity, legal management and financial
management.
With Compra Lo Nuestro, Colombian MSMEs have saved $ 6,329 million in barcodes
Between March and August of this year, at least 375 micro, small and medium-sized Colombian companies have saved a total of
$ 6,329 million in barcodes of the GS1 standard, the most used in the world.
This, thanks to the alliance between Colombia Productiva and Logyca, within the framework of the Compra Lo Nuestro strategy,
which allows MSMEs that register on the platform www.compralonuestro.co to access this type of codes for free, which have a
market value of $ 178,000 each. 35,560 of them have already been delivered to the companies that have requested it.
Dominica
The Dominica Entrepreneurship Visa Program which is expected to be launched later this year, will expand business activity
and create new jobs.
Under the programme, foreign investors who start a small business or invest in an existing business would be granted residence status.
Ecuador
“Seguimos Adelante" new virtual fair for MSMEs and artisans in Ecuador
This fair was aimed at MSMEs and artisans from the national productive sector, supported by the Ministry of Production, Foreign Trade,
Investments and Fisheries (MPCEIP). The participants received support through virtual meetings about products to be marketed, sales
process and home delivery as fundamental factors to guarantee success during the fair.
El Salvador
More than $ 34 million in Public Procurement Granted to Salvadoran MSEs between January and June 2020
From January to June 2020, the Government of El Salvador made purchases for more than $ 34 million in Public Purchases in favor of MSEs,
which represents 26.6% of the total granted.
Government presents Policy for the Promotion of the Participation of MSEs in Public Procurement
The Government of El Salvador, through the National Commission for Micro and Small Businesses (CONAMYPE), presented the Policy to promote the
participation of MSEs in the Public Procurement Market..
This policy seeks to reduce the main obstacles that MSEs face for their participation in the public procurement market. It covers all the
elements that involve the internal processes of the institutions to publicize the needs on the demand side and on the supply side and it
analyzes the procedures that the MYPE must comply with in order to present their technical and economic offers.
Guatemala
Representatives of more than 30 organizations receive guidance on credit lines offered by the Ministry of Economy
Representatives of organizations, unions and federations of micro, small and medium-sized enterprises, artisans and entrepreneurs, as well
as the National Federation of Rural Women of Guatemala, the Global Network of Indigenous Entrepreneurs and the Garifuna people from all
over the country, met at the Ministry of Economy to receive information on financing resources and business services in charge of the
Vice Ministry of Development of MSMEs.
During the meeting, authorities presented the Credit Fund for Economic Reactivation offered by MINECO through the vice-ministry.
Jamaica
Jamaica plans to provide more than $14 billion to support business, tourism interests, and farmers within three years
The funding provisions will include $10 billion in loan guarantees to support micro, small and medium-sized enterprises (MSMEs); $3 billion
in agri-care support for farmers and fisherfolk; $1.2 billion in grants to small and medium-sized tourism operators, to be deployed through
the EXIM Bank; and $500 million in grants for micro and small community-based businesses.
Lasco Financial Develops Cashless E-Business Platform For MSMEs
Lasco Financial Services Limited, LFSL, has hand-picked a few business operators from within the micro, small and medium-sized
sector for a test run of a new tech-driven cashless business model system, designed especially, but not exclusively, for MSMEs
that are among Jamaica’s large unbanked population.
Mexico
COVID-19: More than 135 thousand Mexican MSMEs benefit from the alliance between CAF and NAFIN
Through the credit line granted by CAF in favor of Nacional Financiera (NAFIN), MSMEs have benefited in sectors of commerce, industry
and services, the most intensive in human capital and, therefore, most vulnerable in the framework of the current health and economic
situation, with credits that accumulate 5,916.6 million pesos.
Panama
President of Panama approves law that grants greater financial support to microenterprises
In a strategy that will contribute to the development of microenterprises, this bill increases the limit amount of the seed capital from US
$ 1,000 to US $ 2,000. This is a non-refundable grant that the Government delivers to entrepreneurs and small business owners.
Paraguay
The Government of Paraguay offers a Virtual MSME Library
This tool includes all the information on the sector and its entrepreneurs: Regulations, Laws, Decrees and Resolutions; Research and technical
documents; newsletters, studies and reports; and inter-institutional alliances, among others.
Peru
Exporting MSMEs reduced logistics times and costs by up to 25%
Thanks to a methodology proposed by the Ministry of Foreign Trade and Tourism (Mincetur), eighteen micro, small, and medium-sized exporting
companies in Peru were able to reduce logistics times and costs by up to 25%.
The Bahamas
Bahamas Government to Outline New Economic Measures to Deal with Impact of COVID
The Bahamas government will soon outline new measures aimed at reviving the economy in light of the
coronavirus (COVID-19) pandemic.
Trinidad and Tobago
Government training entrepreneurs in E-Commerce
One hundred and eighty (180) entrepreneurs are learning to establish online businesses through a series of training sessions, organised by the
Ministry of Trade and Industry (MTI) and exporTT. Micro, Small and Medium-sized Enterprises (MSMEs) have been prioritised for training and
assistance.
Uruguay
Government offers tools so that MSMEs can innovate and develop their potential
In the celebration of the National Day of MSMEs, Minister Paganini affirmed that most of the companies that make up key productive
chains for the country belong to this sector. He underlined its quality standards and its potential to create employment, social
inclusion, development and internationalization. He affirmed that they will have "all the support of the Government" to develop their vision.
International and Regional Organizations
Bank of Central America (BCIE)
Banco de América Central receives a loan of 160 million dollars from IDB Invest
With the funds, it will support SMEs in El Salvador and Guatemala affected by the pandemic
IDB Invest
CABEI authorizes Q92 million for loans to SMEs in Guatemala
On Wednesday, August 26, the Central American Bank for Economic Integration (CABEI) authorized US $ 12 million (about Q92 million) for
Guatemala with the objective of financing micro, small and medium-sized enterprises (MSMEs) impacted by the effects of the coronavirus
on the economy.
Caribbean Natural Resources Institute (Canari)
SMEs get grants to boost business
Eight small and microenterprises (SMEs) from the Bahamas, Dominica, Grenada, Haiti, Jamaica and St Vincent and the Grenadines received US $13,500
in microgrants from the Caribbean Natural Resources Institute (Canari)
Mastercard, WiPay partner to advance digital payments across the Caribbean
Mastercard has announced its partnership with Caribbean-based fintech company WiPay, building on its strategic plan to evolve and develop its presence
in the islands. Both companies will collaborate to drive greater financial inclusion in the islands through a suite of payment and acceptance solutions.
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