Promoting Access to Finance for Productive Purposes for MSMEs (WB-P172899)

Countries
  • Ecuador
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
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 28, 2020
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.
Borrower
CorporaciĆ³n Financiera Nacional
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 150.00 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)
$ 150.00 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 @ WB website

Updated in EWS Jan 31, 2020

Disclosed by Bank Jan 24, 2020


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Project Description

According to the Bank's document, this project finances onlending by the borrower to selected financial institutions to increase investment in mirco, small and medium-sized enterprises. This will entail: (1) strengthening the institutional capacity of the borrower; (2) development and improvement of financial products to promote access to finance; (3) credit line intermediated by the borrower to selected financial institutions for on-lending to micro, small and medium-sized enterprises; and (4) project management. 

Investment Description
  • World Bank (WB)
Contact Information

Borrower/Client/Recipient

Corporación Financiera Nacional: Pablo Patino, General Manager ppatino@cfn.fin.ec

Verónica Maldonado, Matute Gerente de Negocios Financieros y Captaciones vemaldonado@cfn.fin.ec

Implementing Agencies

Corporación Financiera Nacional: Verónica Maldonado, Gerente de Negocios Financieros y Captaciones vemaldonado@cfn.fin.ec

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.