Banco D-Miro

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BIO is investing 5 million USD in Banco D-Miro, a bank specialized in microfinance and focused on reducing poverty. Its operations started in 1977 as a microfinance program supported by a Norwegian NGO, with the aim to promote development in the most vulnerable areas of Ecuador. In 2011, the organization became a bank. Banco D-Miro offers financial services to micro, small and medium entrepreneurs in the peri-urban areas of the coast of Ecuador, where the poverty levels are higher and the penetration of financial services is the lowest.

The Bank offers a wide range of products: microenterprise, home improvement, education, and health loans. Additionally the Bank has developed specialized products focused on more marginal sectors of the population: it has a social portfolio with products designed for disabled people, HIV positive people or single mothers that want to start a small business. Beside the offer of loans, the Bank provides additional services to its clients such as health insurance. In collaboration with the founder NGO, the bank offers technical assistance on various topics related to financial education, health, trainings in entrepreneurship, and even home improvement workshops.

BIO’s loan will allow for the bank to further deploy its activities and reach out to the underserved population in Ecuador.


The main development goals of the investment are Local economic growth, Private sector consolidation/innovation and Financial Inclusion. These objectives are to be reached through credit provision to micro-enterpreneurs and mobilization of local savings as well as through market structuring effects such as the expansion of range of products offered.

  • Investment amount (€):

    € 4.12 M

  • Contract signature :

    2015

  • Nature of intervention :

    Debt

  • Development impacts :

    • 1 — Local economic growth
    • 2 — Private sector consolidation/innovation
    • 3 — Financial inclusion

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