Ecuador
Ecuador has witnessed an explosive growth in microfinance during the past few years. The number of regulated institutions offering microfinance has increased, the volume of outstanding loans has grown dramatically, and the number of loans outstanding has soared. In addition to regulated financial institutions, there are many non regulated institutions offering microfinance services. There are more than 300 non regulated cooperatives (credit unions), and numerous NGOs that are not included in the official statistics. However, most of the non regulated institutions are small. The tendency is for the larger NGOs and credit unions to become regulated.
The outstanding loan portfolio of regulated microfinance institutions, as reported by the
Superintendence of Banks , was $257.1 million, compared to a total estimated potential demand of between $206.2 million and $656.7 million.
Ecuador has a strong MFI network. The RFR (Red Financiera Rural) is the network of all registered MFIs in Ecuador. RFR is representing the rural and the urban sector. It's objectives are to provide a forum and structure through which MFIs can share their experiences and exchange information, to enhance the capacity of the member MFIs through offering training and negotiation for alternative funding resources from both local and international sources and to strengthen the entire MFI sector development through undertaking research, advocacy, promotion of the industry, engage dialogue with the government and other relevant international institutions with to view to positively influence MFI policy and practises.
The MicroNed members active in Ecuador are Hivos (6 partners), Oxfam Novib (2 partners) and ICCO (4 partners).
Hivos is the general MicroNed country coordinator for Ecuador.
