BANCO CODESARROLLO is an Ecuadorian social bank offering financial services (loans, savings, support) to the poorest populations, particularly in rural areas. In addition to its direct financing of agricultural, commercial and craft activities, CODESARROLLO supports producer organizations and savings and credit cooperatives throughout the country. This dual activity positions the institution as the only bank for the social and popular economy in Ecuador’s private sector.
Ecuador is one of the smallest countries in South America, but with great economic potential: mining and hydrocarbon reserves, as well as agricultural and marine resources. Nevertheless, the country suffers from considerable social instability: strikes regularly rock the country, due to the cost of living and the demands of the indigenous peoples, who feel neglected. In addition, overcrowding in Ecuador’s prisons is leading to an increase in violence attributed to drug traffickers.
CODESARROLLO’s dual activity (direct and indirect) enables it to significantly extend its reach. The bank is strongly committed to the ecological and social transition. It offers “Crediecológico”, specifically designed to finance renewable energy, soil regeneration and agro-ecological production, as well as training on the subject for cooperatives.