The project, part of the Central American Adelante strategy, will accompany 44,000 convenience stores in El Salvador.
The U.S. government and beverage giant The Central America Bottling Corporation (cbc) will invest $6.4 million to boost growth of 44,000 convenience stores in El Salvador.
Investment is part of the “Forward Central America” strategy, launched in 2021 by US Vice President Kamala Harris to boost growth inNorthern triangle of Central America in order to curb irregular migration.
The United States Agency for International Development (USAID) will allocate $3.2 million, while cbc (Livsmart) will contribute $3.2 million, which will run between 2024 and 2027. He also joins as a partner TechnoServe, an organization created in 1968 to help people get out of poverty.
William Duncan, U.S. ambassador to El Salvador, said more than 1.7 million Salvadorans buy basic necessities in 70,000 stores, such as food, household items and other basic goods.
“Shops are central to both the local economy and community cohesion. These small businesses also create a meeting place for the neighbors, strengthening ties and fostering a sense of belonging,” said the diplomat.
Livsmart manufactures in El Salvador to Petit, California, Gatorade, Pepsi, AMP and Aqua. /Francisco Valle
The programme provides for the accompaniment of local traders inSan Salvador, San Miguel and Santa Ana,which belong to the network of cbc stores, one of the strongest muscles in the Salvadoran economy.
“Through technology, knowledge sharing and support for inclusive and equitable growth, we seek to give every entrepreneur access to resources and opportunities that transform their future and that of their communities,” added Ziad Nahas, CEO of cbc.
In addition, the project will provide digital training in business management, marketing, supply chain management and financial education. Similarly, the project will serve as a business acceleration for 1,800 traders with greater growth potential. Similarly, a leadership course “Emendling Women” is included, as most stores are led by Salvadoran women.
María Luisa Hayem, Minister of Economy, said stores mobilize more than $4 million a day in sales. /Francisco Valle
A project line provides for access to financing for10,500 businesses with credit products.In addition, 15,000 urban dwellers in the three departments are expected to be impacted with the introduction of new products and services.
cbc is a Mariposa Group business unit with exports to 35 countries with the iconic brands of Petit, California, Gatorade, Pepsi, AMP and Aqua.
The company is the largest exporter of drinks inEl Salvador for a decade, according to the Salvadoran Association of Industrialists (ASI).
This article has been translated after first appearing in Diario El Mundo