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Credife - Micro-enterprises Financing Partnership

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-L1139

Approval Date

July 16, 2014

Project Status

Closed

Project Type

Loan Operation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

PRIVATE FIRMS AND SME DEVELOPMENT

Lending Instrument

BID Invest

Lending Instrument Code

IIC

Modality

PSB (B-Private Sector Loan (B-Loan))

Facility Type

-

Environmental Classification

-

Total Cost

USD 80,000,000.00

Country Counterpart Financing

USD 10,000,000.00

Original Amount Approved

USD 50,000,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
3250B/OC-EC-1-NE-TRIOZSB Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
3250B/OC-EC-1-PN-BAALPNB Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
3250B/OC-EC-2 Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Participant Financing
Operation Number 3250B/OC-EC-1-NE-TRIOZSB
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing
Operation Number 3250B/OC-EC-1-PN-BAALPNB
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing
Operation Number 3250B/OC-EC-2
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Participant Financing

Can’t find a document? Request information

Implementation Phase
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
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

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