IDB Invest Financoop Expand Access To Financing For Microenterprises In Ecuador
QUITO, Ecuador - IDB Invest announced an investment of up to $10 million in a bond issued by Caja Central Financoop, a cooperative financial institution that provides specialised financial products and services, to expand access to financing for microenterprises owned or led by women in Ecuador. The transaction seeks to strengthen financing for women entrepreneurs across the country.
The investment is part of a total bond issuance of up to $20 million, including up to $10 million from additional investors. The proceeds will be channelled through cooperatives and mutual associations affiliated with Financoop.
This operation marks the beginning of a strategic relationship between IDB Invest and Financoop and contributes to the development of Ecuador's bond market. It also promotes the participation of new investors in development-oriented instruments and channels resources to priority segments that support the country's economic growth.
In addition to financing, IDB Invest will provide technical advisory services to strengthen Financoop's impact measurement and management capabilities. The project will support improvements in the collection, monitoring, and reporting of information related to loans granted to women, enhancing data quality and strengthening the institution's ability to demonstrate the development outcomes achieved through the operation.
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