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CONAFIPS GREEN ENERGY TRANSITION ECUADOR

Summary sheet

Release date
2 July 2025
Status
Reference
Under appraisal | 09/07/2024
20230471
Project name
Promoter - financial intermediary
CONAFIPS GREEN ENERGY TRANSITION ECUADOR
CORPORACION NACIONAL DE FINANZAS POPULARES Y SOLIDARIAS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 75 million (EUR 64 million)
not applicable
Location
Sector(s)
Description
Objectives

The project consists of a Multiple Beneficiary Intermediated Loan (MBIL) provided to Corporación Nacional de Finanzas Populares y Solidarias (CONAFIPS), a public financial corporation operating in Ecuador as a second-tier bank. This marks the first operation under the DESIREE programme in Ecuador.

The aim is to promote financial inclusion in Ecuador. CONAFIPS will finance energy efficiency and gender-focused projects, as well as other economic activities like agriculture, industry, and individual entrepreneurship by vulnerable groups.

Environmental aspects
Procurement

The Financial Intermediary has to ensure that the project complies with the EIB's Environmental and Social Standards.

The Financial Intermediary has to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Milestone
Under appraisal
Link to source
Summary sheet
CONAFIPS GREEN ENERGY TRANSITION ECUADOR

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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