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Bolivariano receives IFC funding

Bolivariano receives IFC funding

June 3, 2019 | Mick Bowen
Ecuadorean lender gets $50m to support SME loans

Loans Ecuador Andean United States

Banco Bolivariano has received a five-year, $50m loan from IFC to fund loans to small businesses in Ecuador. Small and medium-sized enterprises (SMEs) provide one in three jobs and account for 25% of GDP in Ecuador. The financing gap, however, stands at $15.7bn, or 16% of GDP, according to IFC.  IFC granted a $30m loan for Bolivariano to fund SME loans in December 2014. The Guayaquil-based lender also borrowed $30m from IDB Invest for SME loans in January this year. IFC supplied $50m in March th

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