New Oikocredit partnership with cooperative Atuntaqui provides uplift for microfinance and affordable housing in Ecuador
From left to right in the photo: Patricio Torres, Oikocredit’s Investment Officer for the Andean region, and Alejandro Pazmiño, General Manager of Atuntaqui, signing the agreement.
Four-year US$ 8 million in credit will support expansion of microcredit and housing loans for thousands of cooperative members.
Oikocredit has entered into a new partnership with Ecuadorian savings and credit cooperative Atuntaqui, lending US$ 8 million as a contribution to the expansion of its services to members.
Atuntaqui, which operates mainly in northern Ecuador, will use US$ 5.6 million of Oikocredit’s new loan facility to increase its microcredit portfolio, and the balance of US$ 2.4 as lending for affordable housing, covering home and land purchases, construction, repairs and improvements. With Oikocredit’s support, Atuntaqui aims to expand its reach to more people on low incomes.
For Oikocredit, this funding for Atuntaqui’s work combines its long-standing support for microfinance with community-focused financing of affordable housing under the investor’s 2022-2026 strategy, designed to achieve greater social impact and to help low-income communities build resilience.
Read the press release here
Archive > 2024 > April
- 26/04/2024 26/04/2024, 12:37 - New Oikocredit partnership with cooperative Atuntaqui provides uplift for microfinance and affordable housing in Ecuador
- 26/04/2024 26/04/2024, 12:25 - New Oikocredit partnership with cooperative Atuntaqui provides uplift for microfinance and affordable housing in Ecuador
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