Banco Bolivariano
Ecuador – Enabling our client to support business owned by low-income women
Trade program to support financial inclusion and empowerment of women owners by enabling access to international markets
The Client
- Banco Bolivariano (BB) is a private financial institution, based in Guayaquil, Ecuador. It is the fifth largest financial institution in Ecuador1
- Focuses on commercial banking, which is 70% of BB’s total overall portfolio1
The Transaction
- USD short-term facility
- Use of proceeds: strengthen BB’s commitment to the social development of Ecuador by providing affordable trade finance facilities to women business owners
- Citi acts as the confirming bank for letters of credit, for Banco Bolivariano, issued to women-led Small and Medium Enterprises (SMEs) that meet related eligibility criteria
The Impact
Economic inclusion:
- Qualifying women owned or led SMEs benefit from discounted pricing, which enable access to services at an affordable rate
- Enables women owned and/or led SMEs in Ecuador to access to international markets
1Source: “Superintendencia de Bancos de Ecuador”, August 2023