Bolivariano receives IFC funding

Bolivariano receives IFC funding

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

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial