Companies in the MiPyme segment will have access to new sources of financing in Banco Pichincha through a contribution of 20 million dollars from the National Finance Corporation (CFN), as part of a program that the government institution maintains with the Inter-American Development Bank (IDB).

CFN President Jorge Andrade emphasized the importance of allocating these funds. He emphasized that “it is important that Banco Pichincha, as the largest financial entity in Ecuador and with a large national coverage, manages these funds because it can allocate them to the entire production sector.”

Banco Pichincha wins as the best financial entity in Latin America in Corporate Responsibility 2023.

While Antonio Acosta, president of Banco Pichincha, said that the agreement is a sign of confidence to put the funds to the benefit of SMEs in the country. “This type of agreement reaffirms, without a doubt, that we are creating a country in a real and concrete way, to reach the people who most need the support of the national financial system.”

In 2022, this bank disbursed loans in the amount of 7.8 billion dollars, of which 74% was intended to finance production activities. Of that amount, the microenterprise segment received $1.4 billion.

Top 10 banks with the most web visits in Ecuador, it gives more loans in the first place

These resources “help to strengthen the financial inclusion strategies that Banco Pichincha has been implementing for several years. Within them, special products have been developed for women who have limitations in accessing financing sources and to strengthen their empowerment and economic development.” According to World Bank data, in Ecuador women own or manage 27.8% of micro, small and medium enterprises.