MICROCAPITAL BRIEF: Microfinance Institution Banco Solidario Borrows $3m from MicroVest to Speed MSMEs’ Adjustment to COVID-19 Pandemic

Ecuador’s Banco Solidario recently agreed to borrow USD 3 million from MicroVest, a debt-focused asset manager owned by US-based DAI Global, to support the microbank’s financial education of women as well as “the expansion of the company’s SME [small and medium-sized enterprise] portfolio to revive the liquidity needs of small businesses seeking working capital in the post-COVID environment.” Established in 1995, Banco Solidario offers