CONAFIPS joins ALIDE as a new member
- Ecuador’s wholesale public banking system is at the service of the popular and solidary economy (EPS), promotes financial inclusion and contributes to the growth of EPS financial institutions, thereby improving their members’ quality of life.
December 28, 2022 – Corporación Nacional de Finanzas Populares y Solidarias – CONAFIPS joined the Latin American Association of Development Financing Institutions – ALIDE as an active member in order to contribute to the economic and social development of Latin America and the Caribbean.
CONAFIPS is an Ecuadorean wholesale public financial institution that opened its doors on December 28, 2012 following the enactment of the Popular and Solidary Economy Organizational Law–LOEPS– on May 10, 2011.
The Corporation’s purpose is to strengthen the popular and solidary economy’s financial sector by providing wholesale financial and loan services, with savings and loan and mutual cooperatives as its allies.
Its principal products and services are wholesale loans, guarantees, reinforcement/training services, fund administration and trust fund management.
CONAFIPS management shores up financial inclusion by means of production loans that benefit women working in the violet economy and also considers young people, senior adults, entrepreneurs and other actors in Ecuador’s popular and solidary economy.
As part of the national government’s policy of environmental and social responsibility, CONAFIPS created green/sustainable loan lines for organizations in the popular and solidary financial sector.
CONAFIPS’ green loans finance production activities that contribute to ecosystem and environmental conservation and to the safeguarding of terrestrial life, in this way contributing to the fulfillment of the UN’s Sustainable Development Goals.
CONAFIPS’ affiliation with ALIDE fosters the financial cooperation of its members and the exchange of knowledge about the products, services and experiences by means of technical forums and training events.
What is a wholesale or second-floor bank?
A wholesale bank is a financial institution that directly serves financial institutions requiring funding in order to create retail loans in benefit of their members and/or customers.
ALIDE member wholesale banks include CONAFIPS and CFN (Ecuador); COFIDE and AGROBANCO (Peru); Bancóldex, FINDETER and FINAGRO (Colombia); and BNDES (Brazil), among others.
About ALIDE
ALIDE is the community of financial institutions that produce banking solutions for Latin American and Caribbean development. Founded in 1968, its main purpose is to contribute to the region’s economic and social development by promoting the use of good development finance practices among its members. It is comprised of more than 80 member institutions operating in over 20 countries of Latin America and other regions of the world.
Contact
Communnication Unit of ALIDE
Phone: +511-203-5520 |: Ext: 227
comunicaciones@alide.org, comunicaciones2@alide.org
www.alide.org