In March 2019, 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.

Project name

Banco Pichincha

Region

Central America and the Caribbean

Sector

Financial sector / Microfinance / SME

Service

Investment Finance

Project country

Ecuador

OeEB project volume

USD 20 million

Projekt 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, which make up about 37% of formal MSMEs in Ecuador. 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 9,000 agents, the bank reaches customers even in rural areas, which makes it an ideal partner for OeEB.