In order to strengthen financial inclusion and the promotion of financial and non-financial products and services and facilitate access to credit, BanEcuador and the National Federation of Banana Producers of Ecuador (Fenaprope) signed a cooperation agreement in the canton of El Carmen, in the province of Manabí.

The commitment was signed by the general manager of BanEcuador, Fernando Chiang, and the president in charge of Fenaprope, Luciano Marquinez. In addition, the president of BanEcuador’s board of directors, Mauricio Salem, participated as an honorary witness.

BanEcuador resumed 1×30 loans after a two-month break and without guarantee that these and new services will continue in the next government

“We are committed to changing the face of the bank with the help of organizations that are closer to the people and know their needs,” Salem pointed out during the event during which the small producers of Barraganete bananas for export received 1×30 loans (at 1% interest for up to 30 years) from the public bank , to finance field works such as fertilizer and fertilization.

The signing of this contract and the delivery of the loan occurs after BanEcuador resumed the delivery of this product after two months of inactivity.

The 1×30 loan is placed in coordination with the Ministry of Agriculture and Livestock (MAG) – loans for agriculture and livestock -, the Ministry of Industry and Production – loans for trade, services, small industry, crafts, artisanal fishing, fish farming -, the Ministry of Social Inclusion – with loans for trade, livestock, agriculture, small industry, services and crafts.

The temporary stoppage of these loans in the sector of agriculture and animal husbandry occurred because the subsidy funds of the Ministry of Agriculture and Animal Husbandry were exhausted, given that it is a loan that is subsidized in 15 points of interest by the Ministry of each branch.

Requirements and steps for requesting a 1×30 loan from BanEcuador

For his part, the president of Fenaprope said that this loan is a product that “has never happened in history here in the country”, but it is possible thanks to the decision of the Government and the current management of the institution. .

According to figures from BanEcuador, during the government of Guillermo Lasso, the institution monitored more than 33,000 credit operations in the province of Manabí, amounting to more than 113 million dollars, and the main sectors were agriculture, livestock and trade. In the case of the canton of El Carmen, financing of more than 10 million dollars was provided to more than 2,700 beneficiaries.