Bolivariano II (IFC-42081)

  • Ecuador
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 7, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Banco Bolivariano C.A.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 10, 2019

Disclosed by Bank Apr 4, 2019

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

The proposed investment in Banco Bolivariano (“Bolivariano” or “the Bank”), an existing IFC client and Ecuador’s (the “Country”) sixth largest commercial bank, consists of a senior loan of up to US$50 million to support the growth of the Bank’s small and medium-sized enterprises (“SMEs”) loan portfolio.

People Affected By This Project

Ecuadorian SME financing gap is estimated at US$15.73 billion, or 16% of GDP. Despite the significant role played by SMEs in the Ecuadorian economy as it produces 25% of GDP, the amount of lending to these companies accounts for only 3.6% of GDP, and 31% of SMEs report being fully or partially credit constrained. IFC anticipates that the project will increase access to SME finance and contribute to narrowing the financing gap for SMEs in Ecuador. IFC's loan to Bolivariano will allow the Bank to support its SME clients with longer-tenor loans.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

Banco Bolivariano 
Connie Man-Hing 
Gerente de Tesorería y Relaciones Internacionales 
+593 4 2305000 ext 2399 



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 You can learn more about the CAO and how to file a complaint at