In May 2020, OeEB signed a USD 20 million credit line to Banco Ficohsa, the largest commercial bank in Honduras. The funds are used to finance local micro, small and medium-sized enterprises. 50% of the funds are dedicated to women-owned businesses.
|Project name||Banco Ficohsa|
|Region||Central America and the Caribbean|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||USD 20 million|
|Project partner(s)||Banco Financiera Comercial Hondurena, S.A. y Subsidiaria ("Banco Ficohsa")|
Micro, small and medium-sized enterprises (MSME) are the backbone of Honduras' economy and play a central role in the creation of jobs and income. However, limited access to finance hampers their growth and further development.
Banco Ficohsa was founded in 1991 and is the largest commercial bank in Honduras. Through its nationwide branch network, 800 agents and more than 2,400 self-service machines, the bank reaches corporate and private customers even in remote rural regions.
Banco Ficohsa's goal is to further expand its MSME business and to become the leading bank in Honduras for women-owned MSMEs. In order to specifically strengthen women entrepreneurs, the bank offers special services such as insurance, training measures and various care offers (including medical, legal or psychological services).
OeEB supports this goal by providing a long-term credit line for on-lending to local MSMEs. 50% of the funds are dedicated to women-owned businesses. This not only contributes to closing the funding gap for MSMEs and to preserving and creating jobs but also to improving gender equality and strengthening women entrepreneurs.