Microcredit Finance in Ecuador - 2008

Ecuador is a country that is still carryng an heavy past on his shoulder. Its past is marked by state of political uncertainty and economic disasters.

Bepi Tonello left Italy during the 70s and he is trying to help the South American country since his arrival, founding FEPP Foundation and Codesarrollo Bank: “When I arrived to Salinas, on the Andes, 40 years ago infant mortality was 40%, illiteracy was 90%, the situation was tragic. Latifundism was still present. But we faced every problem and now every social statistics is at the national average. Salinas has become an example of development for Southern America. Unfortunately many think it’s faster to make a change by force of army. But we believe on our project and we make every effort for a peaceful improvement.” In this way FEPP Foundation and Codesarrollo were born. Codesarrollo is a cooperative bank finalized to give financial support to social outcasts. It allows campesinos and lower-class people to access to credit and make their lives better. Codesarrollo has been helped by the network of Italian cooperative banks and it garantees credit and gives assistance to the little cooperative banks that are starting microfinancing projects in Ecuador. The primary aspect of this alternative economics is the social fabric that binds the community members each other: this project cannot be effected without that joint liability.

These photographs were taken in Nayòn, Salinas, Riobamba and Ibarra in 2008.