FACES | Fundación de Apoyo Comunitario y Social de Ecuador
Founded in 1991, Fundación de Apoyo Comunitario y Social del Ecuador (FACES) is one of the largest microfinance institutions (NGO) in Ecuador, with the mission to contribute to the fight against poverty and unemployment in Ecuador by supporting microentrepreneurs with financial and technical resources.
As of Dec.-20, FACES serves 19,652 micro-entrepreneurs via its 18 branches, while over 46% of the outstanding loans are related to agricultural activities. FACES started operations in the south of Ecuador and has recently expanded to the north.
One of the major services offered by FACES are free financial, technical, social and health education workshops for clients and non-clients. Each year, the institution provides training to more than 4,000 people.
FACES is developing with the Inter-American Development Bank a project of green agricultural loans with favorable conditions (lower interest rates) to producers with good environmental management systems in the north of Pichincha. The project aims at improving smallholders’ income through the implementation of innovative measures to climate change adaptation, including financing (green credit), capacity building and technical assistance.
Investment: EUR 3 million, in two tranches
Investment type: Senior unsecured debt
Technical Assistance: EUR 300.000
Date of investment: Dec-20