Cooperativa de Ahorro y Crédito Jardín Azuayo Ltda.
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Mera Pacheco, Gabriela
USD $ 210,000
USD $ 20,000,000
Project scope and objective
The project consists of supporting Cooperativa de Ahorro y Crédito Jardín Azuayo Ltda ("CJA"), in the first Senior Social Bond of Diversity and Inclusion in Ecuador and the region. The total amount of the Bond is up to US$20 million with a four-year term. IDB Invest will act as anchor investor with a subscription for a total amount of up to US$10 million. Other potential investors will participate with up to US$10 million. The proceeds of the Bond will be aimed at expanding the financing to micro, small and medium-sized enterprises (“MSMEs”) led by and/or owned by indigenous people, migrants, women, low-income people and/or people with low levels of education.
Additionally, a technical advisory will be provided to: (i) better assess credit decisions towards women and under-represented groups by developing alternative credit scorings such as psychometric tools; (ii) to strengthen the gender and diversity impact measurement and reporting by improving their data collection systems; and (iii) design the conceptual framework of the Social Bond and finance the second party opinion (“SPO”).
For inquiries, comments and information requests about the projectRequest information
Alternatively, you may also use the following contact information:
Maira Gonzáles Cuesta
+593 (07) - 4134503
IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005