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About $ 1,300 million more will lend public banking
Posted On 12 Oct 2018
Ecuadornews:
The public bank will provide productive credits of six entities of public banking for an amount of $ 1.300 million, through a series of products that were presented yesterday at a special government event aimed at entrepreneurs and entrepreneurs of mypimes and banks, cooperatives and savings banks.
The Economy Minister, Richard Martinez, was the one who presented the plan called Credit, Investment and Employment for Prosperity, in which Corporación Financiera Nacional, Biess, BanEcuador, Banco del Estado, Conafips and Banco del Pacífico participate.
The act was held in the Coliseum of the Ministry of Sports.
The official explained that the program is that CFN will allocate $ 650 million in loans for 2018 and raise that amount to $ 741 million in 2019. In this program, the industrial, service, commerce, exports, forestry and securities sectors can benefit within the Progress 2 program.
Meanwhile, BanEcuador will deliver $ 850 million this year and $ 1,000 million will be programmed for the next.
He announced that people who receive the Human Development Bonus can also access credits through the Yo Prospero program.
For its part, Conafips will promote microcredit, which will increase from $ 161 million to $ 200 million.
The Development Bank will allocate some $ 120 million for autonomous and decentralized governments. Also, Pacífico and Biess will increase their loan portfolios.
During his speech, the President of the Republic, Lenin Moreno, assured that the Government has managed to place up to now $ 6,010 million in productive credits and urged public banks to give more credit to the poorest, which he said are the best payers, even if they had failed in a first attempt at entrepreneurship.
Minutes before, Martinez and the president participated in the World Business Forum Latin America, where both invited the attendees – entrepreneurs from all over Latin America – to invest in the country.
At the meeting, held at the Swissôtel, the minister made a summary of the measures that have been taken to generate a better environment for investment and even said: We are “abandoning the socialism of the 21st century that drew us a dark horizon”. (I)
