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BM voluntarily duplicated credit to Ecuador according Correa
Posted On 13 Apr 2014
President Rafael Correa addressed several topics during his Weekly Address from New York as part of the closure of its U.S. tour.
Regarding the issue of the $ 1,000 million credit that the World Bank (WB) gave to the State without conditions in recent days, Correa said he feels ‘pleased’.
Correa dismissed the questionings that some ‘opponents’ have made for the recent loan. This sector alleged that the Government resorted to the World Bank conditioned by the project to replace gas stoves by electric.
‘The World Bank itself doubled the credit of $ 500 to $ 1,000 million,’ he said, while affirming this decision was due to the “‘economic performance’ of Ecuador.
‘We have been criticized for years lending money to China instead of the World Bank; now that we go to that agency we are criticized, contradiction after contradiction,’ the President said.
