The International Finance Corporation (IFC) has granted a sustainable loan worth US$160 million to Produbanco, one of the top banks in Ecuador. The loan is aimed at promoting the blue economy and providing access to funding for sustainable projects, small and medium-sized enterprises (SMEs), and those owned by women. The loan carries a senior component of US$130 million and a subordinated component of US$30 million, with US$10 million coming from Blue Orchard. The latter funding will contribute to strengthening the technical/Produbanco patrimony.
Produbanco will also receive support from IFC through a technical cooperation agreement focused on blue finance. This cooperation agreement aims to assist the bank in identifying blue financing opportunities and expanding its portfolio. IFC's advice will be given mainly in the aquaculture and water treatment sub-sectors.
IFC recently mobilized a parallel senior loan of US$50 million from the Japan International Cooperation Agency (JICA), bringing the total amount of financing to US$210 million. This loan reflects the commitment of both institutions to support sustainable projects and SMEs owned by women while promoting a sustainable blue economy in Ecuador.
