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Contributing to financing microentrepreneurs in Ecuador
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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18857250
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Financing details
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USD 20m loan
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Customer
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Banco Solidario S.A
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Type of customer
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Financial institution
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Country of headquarters
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Ecuador
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Project number
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PEC1027
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and Banco Solidario are longstanding partners. This operation aims to promote financial support for MSMEs and microentrepreneurs in the country.
Client presentation
Banco Solidario is an Ecuadorian bank specialized in financing microentrepreneurs and low-income groups. The bank, which operates in 14 provinces in Ecuador, is a player with model practices in terms of responsible financial inclusion and has the highest social performance standards.
Project description
This USD 20m senior loan aims to support responsible financial inclusion and financing for micro, small and medium-sized enterprises in Ecuador.
Project impact
This USD 20m senior loan aims to support responsible financial inclusion and financing for micro, small and medium-sized enterprises in Ecuador.
The project is expected to generate the following impacts:
- 1,333 jobs maintained and 2 jobs created
- 6,359 beneficiaries of new or improved access to an essential service
- USD 8m of private finance mobilized.
This project will contribute to SDGs n° 1 (“No Poverty”), n° 8 (“Decent work and economic growth”) and n° 10 (“Reduced inequalities”).