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Promoting Access to Finance for Productive Purposes for MSMEs

Abstract*

The objective of the Promoting Access to Finance for Productive Purposes for Micro, Small, and Medium Enterprises Project for Ecuador is to promote access to finance for productive purposes for micro, small and medium enterprises in the context of the COVID-19 crisis. The Project has four main components. 1. Strengthening the institutional capacity of National Finance Corporation (CFN) component will provide technical assistance and capacity building...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The project development objective is to promote access to finance for productive purposes for micro, small and medium enterprises in the context of the COVID-19 crisis.

Key Details

Project Details

  • P172899

  • Active

  • Federico Diaz Kalan

  • Corporación Financiera Nacional B.P.

  • Ecuador

  • January 24, 2020

  • (as of board presentation)

    July 1, 2020

  • July 31, 2020

  • US$ 260.00 million

  • Corporación Financiera Nacional B.P.

  • Latin America and Caribbean

  • 2021

  • US$ 260.00 million

  • N/A

  • April 30, 2024

  • December 31, 2027

  • Yes

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 260.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 260.00
IDA Commitment N/A
IBRD + IDA Commitment 260.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 260.00

Summary Status of World Bank Financing (US$ Millions) as of January 31, 2025

Download:
No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of January 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Aug 16, 2022 IBRD-91310 Int Charges 1,291,133.40
Feb 15, 2022 IBRD-91310 Int Charges 176,438.36
Feb 15, 2022 IBRD-91310 Int Charges 895,466.70
Aug 15, 2021 IBRD-91310 Int Charges 173,561.66
Mar 15, 2024 IBRD-95260 Int Charges 98,012.56
Nov 16, 2023 IBRD-95260 Fee Charges 750,000.00
Nov 20, 2023 IBRD-95260 Loan Disb 150,000,000.00
Mar 14, 2024 IBRD-95260 Loan Disb 60,000,000.00
Aug 15, 2021 IBRD-91310 Int Charges 911,033.30
Feb 15, 2024 IBRD-91310 Int Charges 31,485.81
Feb 15, 2024 IBRD-91310 Int Charges 8,505,153.00
Mar 15, 2024 IBRD-95260 Int Charges 3,160,525.50
Jun 5, 2024 IBRD-95260 Loan Disb 90,000,000.00
Jul 1, 2020 IBRD-91310 Loan Commitment 260,000,000.00
May 31, 2023 IBRD-95260 Loan Commitment 300,000,000.00
Feb 15, 2021 IBRD-91310 Int Charges 135,910.25
Feb 15, 2021 IBRD-91310 Int Charges 787,200.00
Sep 24, 2020 IBRD-91310 Loan Disb 120,000,000.00
Aug 31, 2020 IBRD-91310 Fee Charges 650,000.00
Aug 16, 2023 IBRD-91310 Int Charges 30,993.16
Aug 16, 2023 IBRD-91310 Int Charges 7,620,854.00
Feb 15, 2023 IBRD-91310 Int Charges 39,863.01
Feb 15, 2023 IBRD-91310 Int Charges 5,590,994.50
Sep 12, 2022 IBRD-91310 Loan Disb 15,000,000.00
Aug 23, 2022 IBRD-91310 Loan Disb 100,000,000.00
Aug 16, 2022 IBRD-91310 Int Charges 173,561.66

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Project Management Satisfactory 2024-12-10
Monitoring and Evaluation Satisfactory 2024-12-10
Overall Implementation Progress (IP) Satisfactory 2024-12-10
Progress towards achievement of PDO Satisfactory 2024-12-10
Procurement Satisfactory 2024-12-10
Financial Management Moderately Satisfactory 2024-12-10

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Number of subloans disbursed under the ProjectValue0.009989.008000.00
    DateJune 23, 2020December 31, 2023December 31, 2027
    Comment
  • Share of second-tier financing of CFNValue21.0031.0940.00
    DateDecember 31, 2022December 31, 2023December 31, 2027
    Comment
  • Number of partial credit guarantees provided to MSMEs with Project fundsValue0.001133.004500.00
    DateJune 23, 2020December 31, 2023December 31, 2027
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Number of MSMEs receiving subloans financed with project fundsValue0.009574.005500.00
    DateJune 23, 2020December 31, 2023December 31, 2027
    Comment
  • CFN's strengthening key actions implementedValueNot adoptedModerateHighly adopted
    DateFebruary 28, 2020December 31, 2023December 31, 2027
    Comment
  • Beneficiary MSMEs report their satisfaction with the financial products offered under the ProjectValue0.000.0075.00
    DateJune 23, 2020December 31, 2023December 31, 2025
    Comment
  • Number of MSMEs receiving partial credit guarantees with Project fundsValue0.00839.003800.00
    DateJune 23, 2020December 31, 2023December 31, 2027
    Comment
  • Number of MSMEs receiving sub-loans financed with Project funds that are owned and/or led by women.Value0.005481.002250.00
    DateJune 23, 2020December 31, 2023December 31, 2027
    Comment
  • Number of PFIs receiving credit lines with Project fundsValue0.0019.0015.00
    DateJune 23, 2020December 31, 2023December 31, 2025
    Comment
  • Volume of total subloans disbursed under ProjectValue0.00222650000.00543000000.00
    DateJune 23, 2020December 31, 2023December 31, 2027
    Comment
  • NPLs of credit lines used by PFIs with Project funds versus the PFI’s total NPLs for the relevant sectorValue36.6%70.37%<100 percent
    DateDecember 31, 2022December 31, 2023December 31, 2027
    Comment
  • Percentage of sub-loans that support climate adaptation and mitigation investmentsValue8.504.5415.00
    DateDecember 31, 2022December 31, 2023December 31, 2027
    Comment
  • Percentage of sub-loans to MSMEs financed with PFIs own resourcesValue3.404.5710.00
    DateDecember 31, 2022December 31, 2023December 31, 2027
    Comment