Banco Pichincha C.A.
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Mera Pacheco, Gabriela
USD $ 200,000
USD $ 50,000,000
Project scope and objective
The project consists of supporting Banco Pichincha C.A. in the first Senior Social Gender Bond issuance in Ecuador. The total amount of the Bond is up to US$200 million with a five-year term. IDB Invest will act as investor with a subscription for a total amount of up to US$50 million. The International Finance Corporation (IFC) is also participating as investor with up to US$$50 million and other potential investors will participate with up to US$100 million. The proceeds of the Bond will be aimed at expanding the financing to Women-led Small and Medium Enterprises (WSMEs), increasing their productive investments and economic development.
Additionally, technical advisory will be provided to: (i) strengthen the gender and diversity strategy of Banco Pichincha by developing a value proposition focused on WSMEs in the agricultural sector, which will also address some the challenges indigenous and rural women entrepreneurs face in Ecuador; and (ii) design the conceptual framework of the bond issue, and a second party opinion will be included, pursuant to the Sustainable Development Goals (“SDGs”).
For inquiries, comments and information requests about the projectRequest information
Alternatively, you may also use the following contact information:
(593 2) 2 980-980 ext. 593411
IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005