Mutualista Pichincha: Social Housing Project in Ecuador
The project¿s objective is to increase access to credit for the construction and purchase of low-income housing (LIH) in Ecuador and thus help reduce the country¿s quantitative housing deficit. To achieve this objective, the IDB will provide a senior secured loan of up to US$18.0 million to the Asociación Mutualista de Ahorro y
Crédito para la Vivienda ¿Pichincha¿ [¿Pichincha¿ Mutual Savings and Loan Association for Housing] (Mutualista Pichincha), consisting of an A loan for up to US$10 million to be financed by the IDB and a B loan for up to US$8.0 million to be financed through the sale of shares to commercial lenders. The loan proceeds will be channeled to expand: (i) Mutualista Pichincha¿s low-income housing loan portfolio
through loans intended for the purchase of new LIH type homes; and (ii) Mutualista Pichincha¿s comercial loan portfolio through loans targeting builders focused on increasing the supply of LIH projects.

Project Detail

Country

Ecuador

Project Number

EC-L1150

Approval Date

November 30, 2015

Project Status

Cancelled

Project Type

Loan Operation

Sector

URBAN DEVELOPMENT AND HOUSING

Subsector

HOUSING

Lending Instrument

BID Invest

Lending Instrument Code

IIC

Modality

PSL (Private Sector Loan)

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 30,000,000.00

Country Counterpart Financing

USD 20,000,000.00

Original Amount Approved

USD 10,000,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
3598A/OC-EC Non-Sovereign Guaranteed USD - United States Dollar Ordinary Capital Private Sector Financing
Operation Number 3598A/OC-EC
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Private Sector Financing