December 10, 2020
The International Finance Corporation (IFC), part of the World Bank Group, said it has provided a $50 million loan for Ecuador's Produbanco to extend credit to companies affected by the COVID-19 pandemic.
"The investment aims to help businesses with disrupted cash flows to continue operations, especially micro, small and medium enterprises (MSMEs) and women-owned MSMEs," IFC said in a press release on Wednesday.
IFC granted the loan through a program that supplies $2 billion to banks in emerging
Multilateral lender supplies $50 mln for the Ecuadorian bank to extend credit to MSMEs hurt by the COVID-19 pandemic