Within the framework of the AmazonIa Forever program, the Inter-American Development Bank (IDB) has approved a 16 million dollars loan with the objective of financing the “Bio-business Financing Program for a Sustainable Amazon” (BASE Program) in Ecuador, which will allow the expansion and diversification of bio-businesses in the Ecuadorian Amazon and thus contribute to the socioeconomic development of the region.

The Program consists of three components:

1. Financing of bio-businesses by channeling resources through the National Corporation of Popular and Solidarity Finance (CONAFIPS) to savings and loan cooperatives, which will then offer loans with cost and repayment terms that meet the needs of this business segment. This component will be financed with an investment loan of 8 million dollars for a 25-year term with ordinary capital from the IDB and 8 million dollars for a 20-year term by the Bioeconomy Fund for the Amazon of the Green Climate Fund (GCF).

2. Establishment of a fund, to be managed by CONAFIPS, to mitigate risks and mobilize additional resources. Financed with resources from the GCF Fund.

3. Strengthening the institutional capacity of CONAFIPS and savings and loan cooperatives. Financed with resources from the GCF Fund.