“Symbiotics launches USD 6.5 million Social Bond in Ecuador with Cooperativa de Ahorro y Crédito Fernando Daquilema” – Symbiotics – January 13, 2022

In a press release distributed on January 13, 2022 Symbiotics reported that it “has arranged a USD 6.5 million Social Bond for Cooperativa de Ahorro y Crédito Fernando Daquilema (“Daquilema”).

With the issuance of this Social Bond, Daquilema reinforces its commitment to serve indigenous communities providing credit to support micro enterprises, entrepreneurship and thus foster employment creation. It also showcases its ability to align to the internationally accepted International Capital Market Association (ICMA) Social Bond Principles, increasing the attraction of international financiers.

The social projects that will be financed are represented by micro loans up to USD 10,000 to microenterprises and SME loans up to USD 1 million to small and medium enterprises, generating employment and improving the general funding available to this market.”

You may read the press release on the news page of the Symbiotics internet site.