The objective of this financing is to channel medium-term resources to Banco de la Producción S.A. to finance small and medium-sized enterprises (SMEs), as well as a green credit line for SMEs. SME investments will focus on energy efficiency and machine replacement mainly across six sectors: food and beverage, textiles, leather, manufacturing, and agribusiness.
The financing package consists of: (1) A senior unsecured loan of up to US$30 million, composed as follows: (i) US$12 million from IDB Invest; (ii) US$13 million from IDB; and (iii) US$5 million mobilized through a potential co-financing, to be financed by IDB Invest in its capacity as administrator of the Chinese Fund for Co-financing for Latin America and the Caribbean (the “Fund”). The term of the senior loans is up to five years with one-year of grace period; and (2) A potential subordinated loan of up to US$20 million is being considered. The subordinated loan consists of: (i) US$2 million (uncommitted) from IDB Invest and (ii) US$18 million from a B lender.
Banco de la Producción S.A. Produbanco provides various banking products and services in Ecuador. The company offers checking and savings accounts; and credits for small and medium enterprises, credit cards, and automotive credit, as well as various investment products, import and export products, and bank guarantees.
Project Contact: María Isabel Rodríguez
International Banking Manager
Phone Number: +(593) 2299-9000 ext. 7307
E-mail Address: firstname.lastname@example.org
ACCOUNTABILITY MECHANISM OF IIC
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).