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In November 2019, OeEB provided a USD 15 million loan for Banco de la Producción S.A. Produbanco ("Produbanco") Ecuador as part of a loan arranged by FMO. The funds are primarily used to finance environmentally or climate-relevant customers and projects. In December 2022, a further bilateral credit line in the amount of USD 20 million was signed.
| 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 35 million |
| International climate finance according to UNFCCC | Yes |
| Additionality | Financial Additionality |
| Project partner(s) |
FMO |
The majority of the funds is used to finance investments that contribute to climate protection. In doing so, OeEB supports the local government's goal of pushing investments in these areas.
In addition, part of the funds is dedicated to providing loans to women-owned small and medium-sized enterprises. 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.
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.