GCPF expands existing cooperation with long-time partner Banco ProCredit, Ecuador

The Global Climate Partnership  Fund (GCPF) and Banco ProCredit, Ecuador are further expanding their cooperation with a new USD 20 m financing facility for green lending activities in the country. The long-term facility will be disbursed in multiple tranches. The first instalment was disbursed in September.

The very successful cooperation between Banco ProCredit Ecuador and GCPF dates back to 2012 and has seen the bank deploy over USD 10 m in green loans to SMEs. Most of these small to mid-size SME loans targeted at energy efficiency and renewable energy generation were used for equipment replacement, ranging from baking ovens to sewing equipment, printing equipment, workshop machines, tractors and taxis.

Banco ProCredit Ecuador is a commercial bank with a development focus that caters to SMEs and private clients. In 2012, it was one of the first banks to introduce green lending in Ecuador. This is in line with the bank’s emphasis on developing long-term relationships with clients, offering personalized service and having trained staff. Under the new financing facility, the bank plans to kick-off project finance for renewable energy, as well as further enhance their offer for retail loans.

The GCPF financing facility is accompanied by a Technical Assistance facility that will be deployed for portfolio and market screening, technical project assessment support and energy audits of financed investments.

Speaking on behalf of Banco ProCredit, Head of Green Lending/Environmental Management Unit Katarina Ždraljević, declared: “Green lending is an increasingly important and visible topic in the Ecuadorian market and banking sector. For ProCredit, environmental responsibility has always been a part of our core values and is one of our important business drivers. Our long-time partnership with GCPF has enabled us to be among the first banks to start green lending, and we look forward to further exploring the potential of energy loans. With 5 years of experience in green finance, we managed to develop internal know-how and expertise in this sector, which enables us to give the good advice to our clients and help them be more sustainable.”

Heidi Sumser, Green Lending Officer Latin America for the Global Climate Partnership Fund, added: “The new agreement demonstrates the close alignment between GCPF and Banco ProCredit. We are pleased to take our successful cooperation with the bank to a new level, reinforcing our long-term partnership with ProCredit Ecuador and its parent company ProCredit Holding.”

About ProCredit Bank Ecuador

ProCredit Bank Ecuador belongs to ProCredit Holding, a German group with subsidiary banks in 14 countries in Europe and Latin America. It began its activities in October 2001 under the name of Sociedad Financiera Ecuatorial and in 2005 the Superintendency of Banks granted it a banking license.  

ProCredit Bank is a development-oriented commercial bank (local rating AAA-, (stable)) and has presence in the main cities of the country. It offers specialized and high quality customer service to small and medium-sized businesses (SMEs) and to private individuals who would like to save. In its operations, the institution adheres to a number of core principles such as transparency and simplicity in its services, as well as personalized advice and competent service to its clients.

For more information go to www.bancoprocredit.com.ec

Contact

Svitlana Zaruzhko
Head of Banking Services and Marketing
Svitlana.Zaruzhko@procredit-group.com
+593 994299708