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Ecuador

Support for village banks

Surrounding – Rural Ecuador and especially the highlands is recovering slowly from the past economic crises, but grave problems remain. The majority of the rural population lives below the margin of subsistence. The most important employers are small and medium enterprises (SMEs). A functioning finance system with request-based propositions is needed to allow the SMEs further development and economical competitiveness.

The project – The project aims is to enable the poor population to access savings and credit possibilities, by systematically strengthening local savings and credit associations. These little village banks are a cornerstone of the local economy. They provide credits to SMEs and producers and guarantee that the savings are reinvested in the region. It is necessary for small banks to professionalize their accounting and business practices to stay profitable and fulfil legal requirements.

But many rural areas lack the qualified personnel for undertaking these tasks. With the help of Swiss bank specialists, we are developing request-based courses for apprenticeship and continuing education. Online courses have proven to be especially useful. The bank appointees are thus able to gain knowledge in key sectors, such as microcredit.

The project enables SMEs to invest, to grow and create much-needed jobs.

 
 
 
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