DFC, Ecuador sign joint statement highlighting support for investment and development

PRESS RELEASE from DFC

7 December 2020

U.S. International Development Finance Corporation (DFC) Chief Executive Officer Adam Boehler joined today U.S. Ambassador to Ecuador Michael Fitzpatrick, Ecuadorian Ambassador to the U.S. Ivonne Baki, Minister of External Relations Luis Gallegos, Banco del Pacifico Chief Executive Officer Andres Baquerizo, and Banco Guayaquil Executive Vice President Guillermo Lasso to sign a joint statement highlighting mutual commitment to build on the significant investments already made by DFC to benefit Ecuadorian development. 

Given the current global pandemic, now more than ever DFC seeks to further expand its commitment to increase private sector-led investment in Ecuador by focusing on support for small and medium businesses and entrepreneurs, with an emphasis on women-owned, women-led, and women-supporting enterprises bolstered by DFC’s 2X Americas, an initiative which seeks to mobilize private capital to empower women throughout Latin America and the Caribbean. 

“Lack of investment and development in Ecuador has only been exacerbated by the effects of COVID-19,” said Boehler. “DFC is proud of its partnership with Ecuador and looks forward to bolstering investment which will contribute to the country’s overall economic growth and recovery.” 

DFC’s current portfolio in Ecuador includes more than $500 million invested across sectors such as housing, microfinance, and telecommunications. This year alone, DFC has approved $250 million worth of investments in Ecuador and is evaluating more than $700 million of additional investments in the country.  

2X Americas, part of DFC’s broader 2X Women’s Initiative, has far surpassed its goal to catalyze $1 billion in investments in the region’s women, investing $2.6 billion and catalyzing nearly $3.8 billion through 33 projects that economically empower women in the region. 

Ecuador is also a strong sponsor and supporter of the U.S. Government’s America Crece, a whole of government initiative to support economic security in the region.