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.
The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.
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.
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 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.