Ecuadornews:
Until June 2017, cooperatives that are part of the Popular and Solidarity Economy granted more than $ 2.6 billion in loans to rural areas, while banks, as a whole, placed close to $ 1 billion, Superintendent of Popular and Solidarity Economy Kleve Mejia said yesterday.
The official explained that this difference is because cooperatives place the resources in the same locality and thus generate economic development.
“For every $ 100 private banks grant, cooperatives grant more than $ 260. That is a ratio of more than 250%,” said Mejía. (I)
