Bolivariano requests IFC funding

Bolivariano requests IFC funding

Loans Corporate & Sovereign Strategy Debt Ecuador Andean

Banco Bolivariano has asked for $50m in financing from IFC to support small business loans in Ecuador. IFC's board is scheduled to review the request on May 7.  The Guayaquil-based lender borrowed $30m to increase green loans and loans to small and medium-sized enterprises, or SMEs, in January.  SMEs in Ecuador represent 25% of GDP, but the financing gap stands at an estimated $15.7bn, or 16% of GDP, according to IFC.  Meanwhile, Paraguay's Banco Familiar has requested up $25m in financing to su

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