In December 2024, OeEB signed a long-term credit line of USD 20 million to Banco Pichincha in Ecuador. The funds will be used to finance local micro-enterprises owned by women. Already in March 2019, OeEB provided a first credit line of USD 20 million.
| Project name | Banco Pichincha |
| Region | South America |
| Sector | Financial sector / Microfinance / SME |
| Service | Investment Finance |
| Project country | Ecuador |
| OeEB project volume | USD 20 million |
| International climate finance according to UNFCCC | No |
| Additionality | Financial Additionality |
| Project partner(s) | Banco Pichincha C.A. |
Micro, small and medium-sized enterprises (MSME) are the backbone of Ecuador's economy and play a central role in job creation and income generation. However, limited access to finance makes it difficult for these companies to invest and grow.
The credit line provided by OeEB contributes to closing this funding gap and is dedicated to fully benefit micro-enterprises owned by women. By improving access to finance, OeEB contributes to preserving and creating jobs and to improving gender equality in Ecuador.
Banco Pichincha is the largest commercial bank in Ecuador and focuses on private clients and MSME. Its microfinance segment is focused on women. With an extensive network of branches and a network of more than 8,000 agents, the bank reaches customers even in rural areas, which makes it an ideal partner for OeEB.