With the aim of promoting the bioeconomy in the Ecuadorian Amazon, the Inter-American Development Bank (IDB) and the National Corporation for Popular and Solidarity Finance (CONAFIPS) join forces in a new project, which includes 21.3 million dollars financing from the IDB for CONAFIPS, non-reimbursable resources for investment and technical assistance.

The project will increase access to credit and investment in bio-businesses, mainly in micro and small enterprises, through CONAFIPS. The project implementation consists of: i) financing of bio-businesses under terms and conditions that match to their risk profiles; ii) creation of the Hedge Fund administered by CONAFIPS to help reduce the perception that bio-businesses are high risk; iii) strengthening the institutional capacity of CONAFIPS and savings and credit cooperatives.