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Loan to Banco ProCredit Ecuador to finance the country’s microenterprises and SMEs
Project
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Signature date
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Location
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Ecuador
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Financing tool
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Financing amount (Euro)
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7559150.35
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Financing details
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Loan of USD 10m
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Customer
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Banco ProCredit S.A
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Type of customer
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Microfinance
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Project number
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PEC1001
Banco ProCredit Ecuador is a financial institution which aims to focus its support on the country’s microenterprises and SMEs. It also conducts a training policy, which is offered to both its employees and clients.
Client presentation
ProCredit Group is a leader in financing microenterprises and small and medium-sized enterprises in developing countries. It offers a wide range of financial services, from individual loans to deposits, and including transfer, insurance, credit card and current account products. Banco Procredit Ecuador belongs to Procredit Group’s network of 22 financial institutions.
Project description
This financing will support the growth in Banco Procredit Ecuador’s portfolio for Ecuadorian microenterprises and small and medium-sized enterprises.
Project impact
This operation will support some 240,000 jobs and strengthen Banco ProCredit Ecuador’s training policy, which benefits not only its employees, but also its clients. It will contribute to improving access to financing for Ecuadorian companies. It will also promote diversification in financial services and the mobilization of savings from the economic base.