March 18, 2015
(Washington, DC)—On February 25, 2015, the Inter-American Development Bank (“IDB”) closed on a US$ 80 million A/B loan facility to Banco Pichincha C.A. The proceeds of the loan will be used to increase the availability of financing for micro- and small-business owners in Ecuador and increase access to financial services for the population of the base of the pyramid in Ecuador
The U.S. based firm of Andrews Kurth LLP advised the IDB as international counsel. Local legal advice was provided by Pérez Bustamante & Ponce.
Andrews Kurth Lawyers:
Vera Rechsteiner, Partner
Eric Markus, Partner
Siddharth Sethy, Associate
IDB In-house Counsel:
Gabriela Alexandra Nassau Ramos
IDB Ecuadorian Counsel:
Bruno Pineda-Cordero, Partner
Natalia Almeida-Oleas, Associate
Banco Pichincha C.A. US Counsel:
Cleary Gottlieb Steen & Hamilton LLP
Juan G. Giráldez, Partner
Carlos A. Ardile, Associate
As released by the former Andrews Kurth Kenyon LLP