In November 2019, OeEB provded a USD 15 million loan for Banco de la Producción S.A. Produbanco ("Produbanco") Ecuador as part of a USD 32 million loan arranged by FMO. The funds are primarily used to finance environmentally or climate-relevant customers and projects.

Project name

Banco de la Produccion ("Produbanco")

Region

South America

Sector

Financial sector / Microfinance / SME

Service

Investment Finance

Project country

Ecuador

OeEB project volume

USD 15 million

Total investment volume

USD 32 million

Projekt partner(s)

FMO

The majority of the funds (USD 27 million) are used to finance investments that contribute to climate protection - especially in the areas of renewable energy and energy efficiency. In doing so, OeEB supports the local government's goal of pushing investments in these areas.

Part of the credit line (USD 5 million) is dedicated to providing loans to small and medium-sized women-owned businesses. SMEs play a central role in job creation and income generation in Ecuador. However, SMEs – and in particular SMEs owned by women – are largely undersupplied with banking services. By providing funds specifically for women entrepreneurs, the aim is to improve access to finance.

Banco de la Producción S.A. Produbanco is part of the Promerica Group and one of the largest commercial banks in Ecuador. The bank, headquartered in Quito, is a universal bank providing financial services for private and corporate customers across a wide range of banking products. An essential strategic orientation of the Bank is its contribution to sustainability and social responsibility. In 2016, Produbanco introduced a Green Finance program with a focus on SMEs, under which 'green' credit lines will be awarded on special terms.