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Banco Codesarrollo is an Ecuadorian social bank with a strong social mission. It offers financial services (loans, savings, financial services, and support) to vulnerable populations excluded from the formal financial system, particularly in rural areas. In addition to directly financing agricultural, commercial, and artisanal activities, Banco Codesarrollo supports producer organizations and savings and credit cooperatives throughout the country. This dual activity developed by the institution makes it the only bank in the social and popular economy within the Ecuadorian private sector.
Ecuador is one of the smallest countries in South America, yet it possesses significant economic potential, with mineral and hydrocarbon reserves, as well as rich agricultural and marine resources. Nevertheless, the country suffers from significant social instability: strikes regularly shake the nation due to the cost of living and the demands of indigenous peoples who feel neglected. Furthermore, overcrowding in Ecuadorian prisons has led to an increase in violence attributed to drug traffickers.
The dual activity of Banco Codesarrollo (direct and indirect financing) allows it to significantly expand its reach. The bank is deeply committed to the ecological and social transition. As part of a Technical Assistance mission, SIDI supported Banco Codesarrollo in the implementation of a “Crediecológico”. This loan is specifically designed to finance renewable energy, soil regeneration, and agroecological production, as well as specific training for cooperatives. In 2023, Banco Codesarrollo went further by designing a global social and environmental policy, which encompasses both its internal actions (Banco Codesarrollo) and external actions (clients), along with integrated management of social and environmental risks.
