The fund has closed its first investments for a total of 7 million euros in two microfinance institutions, INSOTEC and FACES, both with a longstanding expertise financing smallholder farmers in Ecuador.
INSOTEC is leading agricultural microfinance in Western Ecuador, with almost 40 years of experience serving small producers. With a portfolio of 52 million euros, INSOTEC reaches 17,000 customers through 22 branches covering 8 provinces.
FACES, with almost 30 years of experience in the agricultural microfinance segment, serves 19,500 customers with a portfolio of 37 million euros through 18 branches in 5 provinces, primarily in the South of Ecuador.
These investments will allow the microfinance institutions to expand their scope to smallholder farmers, having an impact on 2,750 new producers.
You can access the press release here.