CONAFIPS GREEN ENERGY TRANSITION ECUADOR

Promoter – Financial Intermediary

CORPORACION NACIONAL DE FINANZAS POPULARES Y SOLIDARIAS

Location

• Ecuador

Description

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.

Objectives

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.

Sector(s)

• Industry - Manufacturing
• Energy - Electricity, gas, steam and air conditioning supply

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Proposed EIB finance (Approximate amount)

USD 75 million (EUR 64 million)

Total cost (Approximate amount)

not applicable

Environmental aspects

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

Procurement

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

Status

Under appraisal - 9/07/2024