BanEcuador delivered $ 1.5 billion in loans in two years

Ecuadornews:

A total of $ 1,531 million, through 399,531 credit operations, was disbursed by BanEcuador after two years of creation.

The public bank started its functions on May 9, 2016, replacing the National Development Bank (BNF). The resources were allocated to the agricultural, commerce, service, small industry and other sectors.

60% of the loans granted have focused on these activities. Each month disbursements are approved at an average of $ 70 and 75 million. The goal of the bank is to reach $ 100 million. Since May 2017, with the Gran Minga Agropecuaria, more than $ 376.2 million were placed for the benefit of 52,348 peasant families.

Through the Banco del Pueblo, $ 134.8 million were distributed to 19,809 productive projects. Among the beneficiaries with a loan is the Association of Agricultural Producers Blue Sky, Chimborazo, who in July last year received $ 40,000 to expand greenhouse tomatoes and strawberries kidney.

While the PlaValle Limited Company, dedicated to poultry farming, received $ 85,000 to increase its storage capacity. The company benefits 200 small poultry producers in the Penipe canton. José Vinicio Chávez, legal representative of the firm, commented that once the institution confirmed the feasibility of the loan, they made the necessary contacts to buy a storage machinery in Brazil.

The entity reported that after the earthquake of April 16, 2016 it presented the Contigo Ecuador Credit with amounts of up to $ 20,000, with a 10-year term. To date, 42,325 families in the provinces of Esmeraldas and Manabí received more than $ 274.3 million in order to reactivate their economies.

“The work done in two years does not have to do only with the credit delivery, but with the strengthening of non-financial services for the efforts of producers have greater opportunity for growth,” said Santiago Campos, general manager of BanEcuador. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/banecuador-creditos-bnf