 1. Institutional Strengthening:
We support the Ecuadorian Government’s capacity to increase tax
collection and improve budgetary and fiscal management. We work with
the Internal Revenue Service (SRI), with the Ministry of Economy (MEF)
and with the Superintendency of Banks.
2. Trade Capacity Building:
We support trade as a source of employment, opportunities and growth
for the Ecuadorian economy. We work with both the private and
public sectors.
In 2004 Ecuador joined the negotiations of a Free Trade Agreement with
the U.S. USAID has given assistance of the Ministry of Foreign
Trade and Industry (MICIP), through workshops on trade related issues
and trade outreach activities.
3. Competitiveness:
Through this pilot project we work with the private sector in a market
intelligence system to link small entrepreneurs to final buyers.
The objective is to make the supply meet the needs of the internal and
external demand.
4. Access to Credit: USAID works with
commercial banks, cooperatives, financial institutions and non
governmental organizations. In December 2004 these institutions
had more than 335.235 clients with a portfolio of more than $425.9
million dollars.
5. Guarantees for microfinance institutions: USAID gives guarantees to microfinance institutions in order to help them expand their credit portfolio.
6. Cooperatives: We support the creation of a
network of cooperatives. This system allows clients in any part
of the country to access the services of any cooperative affiliated to
REDCOOP to make their transactions.
Results:
- FTA University Negotiation Model with 4 universities and more than 200 students.
- A $7.4 guaranty given by USAID, enabled Banco Solidario to expand
its micro credit program to the coast and rural areas. In 4
months it reached more than 15.000 clients with an outlay of $7.4.
- With a loan guaranteed by USAID Procredit Bank could access an
international loan and lend $5 million dollars, benefiting 4.300
clients.
- 147.313 new clients in the system.12 cooperatives connected to 70
points throughout Ecuador. The next step will be to connect them
to 1200 points in the U.S. to facilitate the sending of remittances.
Beneficiaries:
-
A solid, sustainable and transparent economic policy benefits Ecuador’s population.
- Banks, cooperatives and approximately 150.000 micro entrepreneurs around the country.
Funding up to this moment: $22.5 million.
Partners: MEF, MICIP, Superintendency of Banks, Central Bank,
SRI, FTA Negotiation Commission. Banco Solidario, Oscus, Banco de
Guayaquil, Finca, Procredit Bank, Credife, Cooprogreso, Cacpeco,
Juventud Ecuatoriana Progresista, San José de Chimbo, Cooperativa El
Porvenir, Cámara de Comercio de Quito, Acción Rural, among others.
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