CAF provides loans of $ 325 million to Ecuador for vaccination and productive reactivation

CAF -development bank of Latin America- and the Ministry of Finance of Ecuador formalized the signing of two loans for a total of $ 325 million in favor of Ecuador. The loan, according to the agency’s press release, aims to support the strengthening of the public health system through the national vaccination plan and the reactivation of production and the sustainability of public finances.

The Minister of Economy and Finance, Simón Cueva, and the president of CAF, Sergio Granados-Díaz.

The first loan for $ 75 million includes actions for the acquisition of vaccines, the strengthening and updating of the logistics chain necessary for immunization; and the development and strengthening of information and registry systems, from the national level to the subnational levels.

While the second loan for $ 250 million, according to CAF, seeks to support the sustainability of public finances and guarantee a sustainable path of debt to consolidate confidence in macroeconomic stability; promote the reactivation of production with an emphasis on improvements in competitiveness for sustainable economic development and inclusive and supportive growth; and strengthen the social protection system.

However, both the agency and the Ministry of Economy and Finance have not clarified for which specific economic reactivation projects these resources will be allocated. 

“With these financial resources we hope to support the fiscal management of the National Government and contribute to promoting the availability and timely execution of public resources,” said Sergio Díaz Granados, executive president of CAF, in the statement.