Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Ecuador
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Signed
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Investment Amount (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-11-03
BANCO DE LA PRODUCCION S.A. PRODUBANCO
FMO-48125

Project Description
WHO IS OUR CLIENT Banco de la Produccion S.A. - Produbanco (Produbanco) is a universal bank in Ecuador, owned by the Promerica financial group - a long standing client of FMO. Produbanco is the fourth largest bank in Ecuador with Total Assets amounting to USD 3.5 billion. FUNDING OBJECTIVE The USD 54 million syndicated term facility will be used by Produbanco for on-lending to SMEs in Ecuador. WHY WE FUND THIS PROJECT Given its strong market position and portfolio quality, its high quality management team and its strong regional shareholder, Produbanco is an attractive partner for FMO to channel much needed liquidity into the productive sector in Ecuador. Through this facility, FMO realizes its strategic goals to finance SMEs and to catalyze other investors. Given the current macroeconomic situation in the country, providing up to 5-year financing is highly additional.
Investment Description
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl Anna van Saksenlaan 71 2593 HW, The Hague The Netherlands FMO South Africa +27 11 507 2500 joburg-office@fmo.nl Regent Place, 2nd Floor Cradock Ave, Rosebank 2196 Johannesburg South Africa