Yesterday the Inter-American Bank of Development (BID by its Spanish acronym) authorized a loan of $ 50 million to strengthen the microcredit programs in Ecuador.
The National Program of Popular Finances, Entrepreneurship and Solidarity Economy (Pnfpees by its Spanish acronym) has the objective of benefiting around 25,000 thousand businessman, especially women with micro companies to improve their income.
Rosa Matilde Guerrero, a BID specialist stated to the press, “It is estimated that these credits will lead to the creation of at least 5,000 new jobs in the next four years.”
The credit of BID has a payment term of 25 years. (AV)