In Honduras, PROPARCO is supporting Banco Ficohsa, a bank committed to women’s entrepreneurship and SMEs

Supporting a committed Honduran bank during the health and economic crises

Banco Financiera Comercial Hondureña S.A.(Ficohsa) obtained the status of bank in 1994 and rapidly became the country’s leading bank in terms of assets.

In 2012 and 2018, PROPARCO allocated credit lines to finance renewable energies and energy efficiency. 

Through this third operation, PROPARCO is reaffirming its support to the market leader in Honduras. It is supporting its financing activity for small and medium-sized enterprises, in a country where only 45% of the population has a bank account and SMEs still do not have sufficient access to financing.

In addition to the range of financial services offered to its SME clients, Ficohsa also provides them with non-financial services. The bank gives its clients additional advice on the development of their web pages, hosting and visibility via advertising campaigns.

Supporting Ficosha’s commitment to the fight against gender inequality 

This new loan is contributing to the development of women’s entrepreneurship in Honduras. Indeed, through PROPARCO’s investment, 37.5% of the credit line will be earmarked for projects that promote gender equality. Consequently, 37.5% of this operation qualifies for the “2X Challenge” under the criteria for leadership (women account for 43% of senior management), employment at the bank and consumption.

This project should also support some 12,000 jobs over the next 5 years via the SMEs financed by Ficohsa. 

“While Honduras is going through a difficult period caused by the Covid-19 pandemic and the consequences of the hurricanes Eta and Iota, this third loan allocated to Ficohsa is allowing PROPARCO to broaden its scope of action, beyond renewable energies, to other sectors such as SMEs and agribusiness. This project is also promoting the inclusion of gender in economic activity in Honduras”, says Mr. Arnaud Michon, Director of the Mexico, Central America and Caribbean region. 

Through these various expected impacts on development, the project will contribute to SDG 8 (Decent work and economic growth), SDG 5 (Gender equality) and SDG 9 (Industry, innovation and infrastructure).