Banco Solidario
BIO has granted USD 35.900 of technical assistance to Banco Solidario, an Ecuadorian microfinance institution.
Amount
€ 32,462.43
Type of investment
Subsidy
Beneficiary locations
Investment field
Financial Institutions
Activity
Banco Solidario is one of the leading microfinance players in Ecuador. The MFI's credit clients are both microentrepreneurs and low-income salaried workers and its average loan size, USD 2800, is among the lowest in the country. Banco Solidario has an inclusion rate of 20% per month, a high social performance rate (A+), corporate governance standards and geographical coverage (54 branches, 14 regions). As of December 2023, 54% of the MFI’s individual clients were women.
Technical assistance
The focus of the technical assistance is Gender equality and awareness initiatives. In particular, BIO will assist in
- measuring and benchmarking Banco Solidario’s current gender equality practices through a gender assessment and certification process; and
- increasing, through a targeted training and train-the-trainer program, the awareness of the MFI’s credit agents to managing commercial relationships and sales to a female public.
Expected impact
The results from the TA will enable Banco Solidario to better attract and retain talents and clients, evaluate and monitor its gender equality performance in terms of actual policies and practices, and increase its commercial capacity to serve women more effectively and intentionally.
This TA is a major step in supporting Banco Solidario implement its gender strategy in line with its 2022 gender action plan, ultimately contributing to its broader mission and to Ecuador’s socio-economic growth.
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Debt
