LatAm List – The IDB’s investment arm, IDB Invest, and Blue Like an Orange Sustainable Capital announced that they pledged US$20M to Produbanco to support small business loans in Ecuador. SMEs and green businesses in Latin America often struggle to gain access to credit, especially from formal banking institutions.
The loan, which will last eight years, will allow Produbanco to increase its credit services for small businesses to support Sustainable Development Goals relating to providing decent work for all citizens. The loans to green companies will also work to catalyze the development of companies that protect the environment.
This loan was the first collaboration between IDB Invest and Blue Like an Orange to provide debt capital to Latin American financial institutions.
Read more in IDB Invest.
