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Supporting women entrepreneurs 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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18365472
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Financing details
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USD 20m loan
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Customer
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Banco de la Producción, S.A. y Subsidiarias
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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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PEC1034
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Environmental and social ranking
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IF-A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
With DEG, Proparco is supporting Ecuador’s private sector by allocating a loan to Produbanco, which will primarily finance SMEs owned by women.
Client presentation
Founded in 1978, Produbanco has established itself as one of the largest and most solid banks in Ecuador. Produbanco belongs to Promerica Group, a regional group with operations in nine countries - mainly in Central America. Although being a universal bank, Produbanco has a strong focus on the financing of companies (especially Corporates), which represents 58% of its credit portfolio. Produbanco serves more than one million customers through a network of 122 branches.
Project description
This transaction, arranged by Proparco and co-financed by DEG under the Friendship Facility framework, consists of a USD 40m senior facility, 70% dedicated to women-led/owned SMEs and up to 30% to SMEs in "vulnerable sectors".
Project impact
The financing will contribute to supporting up to 50 SMEs and 650 jobs (directly and indirectly). It will have positive contributions to SDG 5 “Gender equality” through its 2X Challenge qualification, SDG 8 “Decent work and economic growth”, and SDG 13 “Climate action” by promoting economic activities that improve the sustainable use of resources.