The proposed IFC investment consists on a senior loan for Banco Internacional (“Internacional” or the “Bank”), to support the expansion of the Bank’s portfolio to small and medium enterprises (“SMEs”), including women-owned SMEs.
In parallel, the team will offer an advisory project consisting of a diagnostic and recommendations to strengthen the women segment as a business opportunity by defining a strategy to add value to the Bank’s women-owned SMEs.
The development impact of the project is expected to be high. The most significant, expected project-level impacts are derived from: (i) increase access to finance to SMEs in Ecuador, which will in turn stimulate growth, employment generation and poverty reduction; and (ii) improve access to finance for women owned SMEs, underserved and vulnerable segment in Ecuador. The Bank is expected to leverage on IFC's experience and track record in the SME and women owned segments.
Beyond the project-level impact, IFC anticipates that the project will create a demonstration effect for other financial institutions in Ecuador in terms of supporting women business.
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/