Alliance with Caja Central Financoop to Promote Financial Inclusion in Ecuador

in implementation

The project involves providing support to Caja Central Financoop in issuing a Social Bond in Ecuador. The maximum total amount of the Bond will be up to US$20 million, with a term of four years composed as follows: (i) a subscription from IDB Invest for a total amount of up to US$ 10 million; and (ii) an amount mobilized with other co-investors of up to US$10 million. The resources from the Bond will be used to expand financing for microenterprises, microenterprises in rural areas, owned by and/or led by women, low-income individuals, and/or individuals with low levels of education.Additionally, the project will be supported with technical advisory services defined in collaboration with Financoop in the development of the bond issuance project.