December 6, 2018 |
Produbanco has picked up $80m in financing from IFC to increase lending to small businesses and environmental projects.
The Ecuadorean bank will use the money provide financing for energy efficient projects and upgrades to manufacturing equipment. It will also pass it along as loans to small and medium-sized enterprises, which account for 25% of GDP and 34% of formal employment in Ecuador, IFC said in a statement.
IFC also said it will help Produbanco identify so-called climate-smart projects
Ecuadorean bank will use the money to fund loans to small businesses and environmental projects