by Sheen Gupta -

MICROCAPITAL BRIEF: Cooperative Daquilema, Symbiotics Partner on $6.5m Bond Issue to Boost MSME Lending Among Indigenous Populations in Ecuador

Cooperativa de Ahorro y Crédito Fernando Daquilema, a cooperative in Ecuador, recently partnered with Symbiotics, a Switzerland-based impact investing firm, to raise USD 6.5 million via a bond issue with a term of three years. Daquilema is to on-lend the funds in amounts up to

by Sheen Gupta -

MICROCAPITAL BRIEF: Symbiotics Partners with Cooperative CACPECO on $14m Bond for Housing, MSME Lending in Ecuador

Symbiotics, a Switzerland-based impact investing firm, recently partnered with Cooperativa de Ahorro y Crédito de la Pequeña Empresa de Cotopaxi (CACPECO), a cooperative in Ecuador, to fund it with the proceeds of a bond in the amount of USD 14 million, for a term of 4 years. The funds are to be used for: (1) housing loans with 15-year terms and interest rates of 9.9 percent per year; and (2) business loans of up to USD 1 million for micro-, small and medium-sized enterprises (MSMEs). Of the MSME loans,