Quevedo will host the new BanEcuador

BanEcuador will replace the National Development Bank (BNF) and it will be based in Quevedo, according to the Executive Decree 677, issued last Wednesday by President Rafael Correa. On Saturday, Correa anticipated that the new institution will be ready in October. Though the...

BanEcuador, a public bank created by Rafael Correa

The public bank BanEcuador, will replace the National Development Bank, and its headquarters in will be located in Quevedo. After 180 days it will serve the micro, small and medium enterprises and associative enterprises of agriculture, trade and services sectors, according to...

State Bank will continue granting loans to Municipalities

The Government’s announcement on the revision of subsidies to municipalities will not affect the credits granted by the Bank of the State to local governments. Manager Verónica Gallardo said that assignments that correspond to the autonomous governments will not be affected...

Autonomous Descentralized Governments will not receive subsidized loans

The State Bank won’t subsidize loans to Autonomous Decentralized Governments (Municipalities and Provincial Councils) for construction of projects in their jurisdictions. President Rafael Correa criticized during his Weekly address the big financial support that the State assumes...