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Proparco and Banco de Machala join forces to support Women entrepreneurs in Ecuador
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• Proparco, the French development finance institution of the Agence Française de Développement (AFD) Group, is strengthening its partnership with Banco de Machala through a USD 20 million loan.
• Announced on the occasion of FELABAN's 60th Annual Meeting, this new financing aims to improve access to financial services for small and medium-sized enterprises (SMEs) and women-led businesses in Ecuador’s productive sectors.
In Ecuador, SMEs and women-led businesses, particularly in the productive and agricultural sectors, face significant challenges in accessing long-term financing Through this credit facility, Proparco will help adress this financing gap by supporting Banco de Machala’s efforts to expand access to financial services for these traditionally underserved segments.
Banco de Machala’s strategy focuses on strengthening financial inclusion and promoting gender equality through financial products tailored to women entrepreneurs, training and capacity-building programs, and initiatives to expand access to credit for productive sectors. This financing will enable the bank to scale up these efforts and further contribute to Ecuador’s economic development. The transaction therefore qualifies under the 2X Challenge, an international initiative aimed at promoting investments that contribute to women’s economic empowerment.
Gonzague Monreal, Global Head of Financial Institutions at Proparco, said: “This transaction reflects Proparco’s commitment to strengthening Ecuador’s financial sector and promoting more inclusive and sustainable growth. Through this new partnership with Banco de Machala, we aim to expand access to long-term financing for SMEs and women-led businesses, contributing to productive development, job creation, and the reduction of financing gaps in Ecuador.”
María Eugenia Navarrete, Executive President of Banco de Machala, added: “This financing represents an important step in Banco de Machala’s strategy to promote financial inclusion and support the growth of Ecuador’s productive sectors. Our partnership with Proparco strengthens our ability to support SMEs and women entrepreneurs with long-term financial solutions, fostering sustainable investment and creating greater opportunities for economic and social development.”
This agreement is aligned with Proparco’s strategy to reduce socioeconomic and gender inequalities, as well as Banco de Machala’s strategic priorities in sustainability, responsible banking, and financial inclusion.