The United States and Private Sector to Drive the Growth of 44,000 Neighborhood Stores in El Salvador

San Salvador, El Salvador, October 24, 2024 – The U.S. Government, through the United States Agency for International Development (USAID), the company cbc, and the non-profit organization TechnoServe, launched today the Micro-retail Development Project to promote inclusive economic growth in the micro-retail sector in El Salvador. Through digital channels, the project will provide financial and business training to 44,000 local entrepreneurs who are part of cbc’s customer network, supporting the improvement of their business models.

This project is also part of the Central America Forward initiative, promoted by the U.S. Government and partner organizations to mobilize private sector investments in the region. The Microretail Development Project will improve access to financing for 10,500 businesses with credit products tailored to this segment, driving their sustainability and growth. It also aims to positively impact 15,000 residents in the urban areas of Santa Ana, San Miguel, and San Salvador through the introduction of new products and services tailored to their needs. “We are inspired to strengthen the social fabric by helping small neighborhood stores grow and prosper. Through technology, knowledge exchange, and support for inclusive and equitable growth, we seek to provide every entrepreneur access to resources and opportunities that will transform their future and that of their community, generating well-being. Thanks to the partnership between TechnoServe and USAID, we are combining efforts to ensure the program meets its goals and brings about real and sustainable change,” said Ziad Nahas, CEO of cbc.

In El Salvador, more than 70,000 stores are the main channel where 1.7 million people access food, household items, and other basic goods and services every day, making them an essential pillar for local economic development. “Stores are fundamental both for the local economy and for community cohesion. These small businesses also create a meeting place for neighbors, strengthening ties and fostering a sense of belonging,” said U.S. Ambassador William Duncan.

Additionally, more than 1,800 stores will participate in an acceleration program and receive technical support to boost their growth, deepen knowledge, and promote the application of best business practices in areas such as sales, marketing, inventory management, digitalization, and finance, among others. The program will offer specialized leadership and women’s empowerment training to further strengthen economic participation and agency. “We believe that everyone should have the opportunity to thrive, improve their quality of life, and bring well-being to their communities. Through this initiative, we reaffirm our commitment to economic development and improving opportunities for Salvadoran families,” added Oscar Artiga, Director of TechnoServe El Salvador.

The project will develop and share the knowledge gathered by the various interventions with El Salvador’s entrepreneurship and innovation ecosystem to raise awareness of the positive economic and social impacts of investing in the micro-retail store segment.

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Media Contacts:
Maria José Santos – TechnoServe – msantos@tns.org
Emerson Ayala – USAID – eayala@usaid.gov

About TechnoServe

Founded in 1968, TechnoServe is a leader in harnessing the power of the private sector to help people lift themselves out of poverty for good. A non-profit organization working in around 35 countries, we work with people to build a better future through regenerative farms, businesses, and markets that increase incomes. Our vision is a sustainable world where all people in low-income communities have the opportunity to prosper.

More information at: Twitter @TechnoServe | Facebook @TechnoServe | LinkedIn @TechnoServe

About Cbc
Cbc, a business unit of Grupo Mariposa, is a multinational beverage company with the largest portfolio in the region and exports to over 35 countries. We strive to transform the world by being part of the solutions to global and local challenges, growing sustainably, and making a positive impact on people and the planet.

For more information, visit www.cbc.co