Banco Solidario

Subsidy : September 2021 - May 2022

BIO has granted USD 17,855 of technical assistance to Banco Solidario, an Ecuadorian microfinance institution.

Amount

€ 15,719.00

Type of investment

Subsidy

Beneficiary locations

Latin America and Caribbean: Ecuador

Investment field

Financial Institutions

Activity

KK.64.191  Microfinance institution

Organisation

Banco Solidario

Domicile

Ecuador

More investments in

Banco Solidario

  • Debt $ 20,000,000.00 (2023)
  • Subsidy $ 16,143.00 (2023)
  • Subsidy € 12,290.60 (2019-2020)
  • Debt € 8,338,200.00 (2019)
  • Subsidy € 77,220.00 (2012-2014)
  • Debt € 5,987,000.00 (2012-2016)

Banco Solidario started its activities in 1996 with a social mission which focuses on the microfinance segment and vulnerable populations.

BS is one of the leading microfinance players in Ecuador: 47% of its total portfolio is directly lent to microenterprises for productive purposes, making BS the second-biggest microloans provider in the country (98,000 microloans outstanding with an average loan amount of 2,873 USD). The rest of the portfolio (53%) is invested in other inclusive loan products targeting low-income populations.

Technical assistance

The technical assistance is aimed at measuring and benchmarking Banco Solidario’s gender equality practices through an EDGE radiography of the institution

Expected impact

  • Culture, pay equity, infrastructure and representation are looked at with a gender lens
  • Increased inclusiveness of the culture
  • Pave the way for equitable career flows
  • Improved ability to attract, develop, motivate, and retain a larger and deeper pool of talents: formal, paid employment is more attractive for women to join and stay
  • Better income distribution between women and men
  • Redefined gender roles at work and better role models for future generations which can influence gender roles at home
  • Enhanced brand reputation and employer value proposition

View more of our investments in this region

Aldea Coffee S.A.

Enterprises

Aldea Coffee S.A.

3,000,000.00

  Nicaragua

  12/12/2023

  Debt

Darby International Capital Latin American Fund IV

Investment Companies & Funds

Darby International Capital Latin American Fund IV

10,000,000.00

  Brazil, Colombia, Peru

  01/12/2023

  Equity

Cooperativa Pacífico

Financial Institutions

Cooperativa Pacífico

10,000,000.00

  Peru

  23/10/2023

  Debt

Alterfin

Investment Companies & Funds

Alterfin

5,000,000.00

  23/10/2023

  Debt

Nordic Solar

Infrastructure

Nordic Solar

100,000.00

  Nicaragua

  14/09/2023

  Subsidy

Financiera Finexpar

Financial Institutions

Financiera Finexpar

10,000,000.00

  Paraguay

  07/09/2023

  Debt

Locfund Next

Investment Companies & Funds

Locfund Next

12,000,000.00

  27/07/2023

  Debt

Alterfin

Investment Companies & Funds

Alterfin

 21,500.00

  11/07/2023

  Subsidy

Banco Solidario

Financial Institutions

Banco Solidario

20,000,000.00

  Ecuador

  20/06/2023

  Debt