Credife: Financial Services and Microenterprise Development for the BoP
To achieve the project¿s objectives, the Sector of Opportunities for the Majority (OMJ / OMJ) and the Division of Financial Markets (SCF / FMK) will jointly structure a senior unsecured loan for Banco Pichincha (BP) in the amount of USD $ 40 million for a period of up to six (6) years, with three (3) years grace period. The loan proceeds will be used (i) by CREDIFE¿s Desarrollo Microempresarial of Banco Pichincha in order to expand its credit portfolio, especially for acquisition of fixed assets, associated working capital, and improvements to retail space; and (ii) to finance the investments required by those entrepreneurs who qualify to become banking correspondents (CNB) in order to extend the geographical coverage as well as the range of financial products and services available domestically.

Project Detail

Country

Ecuador

Project Number

EC-L1104

Approval Date

July 16, 2014

Project Status

Closed

Project Type

Loan Operation

Sector

FINANCIAL MARKETS

Subsector

BANKING MARKET DEVELOPMENT

Lending Instrument

BID Invest

Lending Instrument Code

IIC

Modality

PSL (Private Sector Loan)

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 80,000,000.00

Country Counterpart Financing

USD 70,000,000.00

Original Amount Approved

USD 10,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
3250/CH-EC Non-Sovereign Guaranteed USD - United States Dollar China Co-Financing Fund for Latin Americ Private Sector Financing
3250A/OC-EC-1 Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Private Sector Financing
Operation Number 3250/CH-EC
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: China Co-Financing Fund for Latin Americ
  • Financial Instrument: Private Sector Financing
Operation Number 3250A/OC-EC-1
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Private Sector Financing

Can’t find a document? Request information

 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-2004981530-30134
Loan Contract
Ecuador_ Préstamo 3250_OC-EC a Banco Pichincha C_A_ [38856218].PDF
Feb. 02, 2015
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-2004981530-30135
Loan Contract
Ecuador_ CREDIFE - Servicios Financieros y Desarrollo Microempresarial para la Base de la Pirámide_ Fondo Chino [38856330].PDF
Feb. 02, 2015
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-546119787-12
Loan Contract
Ecuador_ CREDIFE - Financial Services and Microenterprise Development for the Base of the Pyramid_ China Co-Fina [38874455].PDF
Feb. 02, 2015
English
https://www.iadb.org/document.cfm?id=EZSHARE-546119787-13
Loan Contract
Ecuador_ Loan 3250_OC-EC to Banco Pichincha C_A_ [38874482].PDF
Feb. 02, 2015
English

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