March 8, 2021

The IDB will allocate new loan to Ecuador for 300 million dollars

The Inter-American Development Bank (IDB) has approved a new loan for Ecuador of 300 million dollars, which is part of an allocation of 1,717 million committed by the agency until 2021, reported Wednesday the Ministry of Economy and Finance.

In a statement, the institution said that the loan is a "support for the Prosperity Plan" that drives the Ecuadorian Executive, after last May the IDB delivered a first disbursement of 500 million dollars, also as part of the support financial.

The holder of that State Portfolio, Richard Martinez, stressed that this financial accompaniment is a "sign of the credibility and trust towards the country on the part of the international community" and that "it is being carried out in a disciplined and planned way with the Plan of Prosperity".

The resources of the IDB will contribute, according to the Ecuadorian Government, to fiscal stability, facilitating sustainable growth and maintaining the main indicators of social development.

On the other hand, the secretary of the Inter-American banking entity, Germán Quintana, shared this week with Martínez in Guayaquil (southwest) the details of the next Annual Meeting of the Board of Governors of the IDB, which will house the Ecuadorian coastal city between 16 and 17 of this month.

Quintana highlighted that the agency's board chose Guayaquil to host its maximum institutional event, "because Ecuador is a great partner and for the strengthening of relations, which have allowed a more active collaboration between both parties," the bulletin said. of the Ministry of Finance.

The official of the entity also stressed the boost to social and economic policy that follows the Ecuadorian Government, which coincides with the IDB's vision of development.

At the inauguration of the Assembly of Governors on July 16, the presidents of Ecuador, Lenin Moreno, and of Colombia, Iván Duque, will be present, where the meeting of the Annual Assembly will take place in 2020.

The Board of Governors of the IDB is the highest government meeting of the Bank, a space in which important economic and social issues of the region are analyzed, as well as the institutional and strategic performance of the Bank.

The call will bring together 48 Ministers of Economy of the member countries of North America, Latin America, the Caribbean, Europe and Asia, with their respective delegations.

Also meeting will be executives from the IDB and IDB Invest, local authorities, opinion leaders, representatives of investment banks, the private sector, as well as other multilateral organizations and development agencies, among others.

The IDB is one of the main funders of Ecuador's development programs in areas such as infrastructure, roads, water supply, education and health.

. (tagsToTranslate) IDB (t) destined (t) loan (t) Ecuador (t) million

Source link