FinDev Canada and 2X Canada join forces in a loan to Cooprogreso targeting women microentrepreneurs in Ecuador
Summary
For the past 53 years, its purpose has been to support the progress of millions of Ecuadorian families.The financing will provide a meaningful contribution towards the Cooperatives growth plan, including its expansion across Ecuador. Said Henry Hernandez, CEO of Cooprogreso.This transaction is well aligned with FinDev Canadas investment priorities, particularly food security and access to finance for women said Lori Kerr, CEO of FinDev Canada. It aims to enhance the resilience and socioeconomic well-being of low-income, underserved, and marginalized populations, particularly women and girls. The department manages diplomatic relations, promotes international trade, and provides consular support. It also contributes to national security and the development of international law.Cooprogreso, the fifth largest financial cooperative in Ecuador, was founded in 1969 by 32 local entrepreneurs whose mission is to serve the underbanked.