LOAN COMPLETION REVIEW AND REPORT, AID LOAN 518-L-031 ($1.2 MILLION), COOPERATIVE BANK OF ECUADOR

Neither evaluation time period nor methodology is specified. Of the $1.2 million provided under this loan, $319,600 was used to finance 24 subloans to small cooperatives for agricultural machinery and equipment, vehicles and spare parts, and other commodities. The average size of the subloans was $13,300 -- one indication of the loan's success in reaching smaller producers. In addition, approximately, $642,000 was subloaned to FENACOOPARR, a private federation of rice-growing cooperatives, to finance an agricultural machinery pool (14 tractors and one excavating machine). Five subloans totalling $210,000 were made to transporation cooperatives to purchase machinery and vehicles. Approximately $16,000 was used for the purchase of office equipment for the cooperative Bank through the Letter of Commitment Procedure. Approximately $12,373 will be available for deobligation upon loan reconciliation. Monthly and quarterly reports have been received through 9/30/74. USAID has requested that the Cooperative Bank provide the remaining reports. A joint USAID-Cooperative Bank inspection of the initial operations of the FENACOOPARR machinery pool was carried out in 3/75. The inspection was favorable. Authors note that this loan project was a particularly successful example of A.I.D. institution-building in Ecuador.