This pioneering initiative will improve access to finance over the next five years, contributing to scale up digital financial solutions and piloting insurance to 500,000 low-income farmers, including women, youth entrepreneurs.

By addressing the need for improved access to financial services and support for MSMEs in agriculture, the project aims to contribute to the creation of jobs and the sustainable and inclusive economic development of the sector.

The general objective is to test a tailor-made and innovative agricultural product for smallholder farmers and expand the loan products to rural areas.

Paymentology, the leading global issuer-processor, today announces an expanded partnership with Mastercard to bolster financial inclusion across Guatemala, Honduras, and El Salvador.

The commitments are part of Mastercard’s engagement, as a founding member, in the Partnership for Central America.

The cryptocurrency will lose its reputation as a speculative asset and prove its use as a legitimate payment system, central bank President Douglas Rodriguez said in an interview on Monday.

Small transfers of bitcoin to El Salvador jumped over four-fold in May from a year ago but still represent a small amount when compared to remittances sent in dollars.

The financing package aims to support micro, small and medium enterprises, women-owned SMEs, housing for underserved segments, and climate-smart investments, including green buildings.

Family remittances received by El Salvador totaled $1,600.7 million in the period from January to April 2020, lower by $173.3 million compared to the same period of the previous year, with a reduction equivalent to -9.8 percent.