Víctor Carvajal, Minister of Agriculture and Livestock, resigned from his position to take on the role of director at the Development Banking System, according to an announcement released by the Presidency on April 15. Carvajal will remain in his current post until Friday, April 17, as he was appointed interim director for the new position.
The move is notable because the directorship at the Development Banking System offers a significantly higher salary compared to his ministerial post. The institutional transparency site for the Development Banking System reports that this new role carries a minimum monthly salary of ¢6.5 million and can reach up to ¢9.7 million. In contrast, Carvajal’s current ministerial salary is ¢4.5 million per month.
The Development Banking System serves as a financing mechanism aimed at supporting entrepreneurs as well as micro, small, and medium-sized business owners across various productive sectors. Its operations are governed by specific legislation bearing its name.
Carvajal’s transition highlights changes within public sector leadership roles where compensation differences may influence career moves between ministries and other state institutions.
As Carvajal prepares to assume his new responsibilities after leaving the Ministry of Agriculture and Livestock later this week, observers will be watching how his leadership impacts access to financing for small businesses through the Development Banking System.
