Spain: Reinvestment of Talents in Ecuador

Rétale, which means ?Reinvestment of Talents in Ecuador? is a project managed by the ?Fundació Un Sol Món?, which depends on the Caixa de Catalunya. ?Rétale? operates through micro-loans awarded by ?Codesarrollo?, an Ecuadorian financial organisation supported by Caixa de Catalunya, to Ecuadorian migrants wishing to start a business of their own in their country of origin. They can do it directly, that is, going back to Ecuador or through a trustworthy person. In the words of the Counsellor for migration of the Autonomous Community of Madrid, the aim is not to promote the return to Ecuador but to achieve that these people who are starting up these micro-enterprises become co-development agents. Until now, around 200 people, 60% of whom women and the rest men, have contacted the Fundació. 47% of them have at least secondary education. Projects currently underway concern trade (27%), restaurants and cafés (12%), agriculture (12%), transport (11%) and small industries (9%). These micro-loans, whose amount between 6,000 and 8,000 ? have interest rates of 12%, which are high in comparison with those awarded by the same Fundació in Spain but very low in comparison with the average in Ecuador, 30%. More information on: obrasocial.caixacatalunya.es/osocial/main.html?idioma=2.