Original disclosure @ IFC website
Updated in EWS Jun 24, 2022
Disclosed by Bank Feb 2, 2022
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The proposed project consists of a senior loan of up to US$25 million to Banco Procredit S.A. (“Procredit” or the “Bank”) in Ecuador, to support the growth of its micro, small and medium sized enterprises (“SMEs”) loan portfolio, with at least 30% of proceeds earmarked to and women-owned SMEs.
Project level impact: IFC anticipates that the Project will increase access to finance for SMEs and women-owned SMEs, an underserved segment in Ecuador and contribute to narrowing SME financing gap in the Country.
Market level impact: IFC anticipates the Project will contribute to increasing the competitiveness of the women-owned SME finance market in Ecuador by further increasing access to finance for these companies, which could help them navigate the economic recovery of the pandemic and meet their long-term capital requirements.
Banco ProCredit S.A
Edificio ProCredit, Av. Atahualpa y Av. Amazonas, esquina
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