In other news, El Salvador’s National Commission for Micro and Small Enterprises (Conamype) communicated its plans to offer Small and Medium Enterprises (SMEs) $10m in crypto-based loans in Q1 of 2022. It’s been reported that 86% of businesses in El Salvador operate on an informal basis without access to banking services. The new crypto loans are said to charge up to 10% in interest which is significantly lower than alternative finance charges currently.
