In Ecuador there are still important economic gaps between men and women. According to Association of Private Banks of Ecuadorduring the first half of 2023 in the case of number of clients and credit operations granted, without taking into account microcredit, the difference was 8 points between men and women.
However, when the total credits are observed, including microcredit, the number of clients and operations granted is equitable and there is no gap, since it is observed that 59% of new microcredit operations have been placed with women during this time.
María Isabel Román, vice president of Retail Banking of Produbancoexplains that as time goes by and accompanied by financial education, more and more women are included in the financial system, which allows them to access financing linesgiving women the ability to take control of their financial lives.
“This means they can make fundamental economic decisions, such as investing in education, starting their own business or purchasing important assets such as a home. This economic independence not only benefits the women individually, but also has a positive impact on their families and communities,” he details.
Access to credit allows women to have economic independence, generate their own income and take control of their finances. In Ecuador, 59% of new microcredit operations went to women in the first half of 2023, supporting its financial autonomy. According to a study carried out by Produbanco, companies led by women are 15% more likely to be above the average financial return.
Read also: Pay equity, what you and your company should know
Promotion of entrepreneurship
Credit is essential for entrepreneurship led by women. 30% of the companies established are directed by women, and this percentage will continue to grow, increasing at least 2% annually until 2030.
María Isabel Román points out that Produbanco manages a category of SMEs run by women and that the impact they have had is reflected in the generation of employment. “To date, thanks to the financing of these SMEs led by women, we have contributed to the creation and maintenance of more than 40,000 jobs. This translates into a positive impact for more than 100 thousand indirect beneficiaries, who are the family members of the employees… Without a doubt, active participation under equal conditions and opportunities in the economy of a country not only benefits women. , but it has a strong multiplier effect by impacting their children and families, and therefore on society in general,” he says.
Data of interest:
● According to the Asobancain the first half of 2023, have been placed four million dollars in educational loans656 million in microcredit, 213 million in productive loans and 150 million in housing loans aimed at women, at the national financial system level.
● 30% of companies incorporated in Latin America are led by women, according to a study carried out by the International Finance Corporation (IFC). Since 2020, the growth in the number of companies led by women is higher than that of those not led by women.
● It is estimated that the percentage of companies formed and led by women will increase by at least 2% each year until 2030.
● Women’s salaries are approximately 20% lower than men’s in the same jobs. There is also a gender gap of around 4 points in banking access according to the ECB.
Read also: A large part of Ecuador’s credit portfolio is destined for the productive sphere
2023-10-16 18:28:43
#Access #credit #key #womens #economic #development
