The Government of Ecuador announced this Monday that it will formulate strategies to promote credit aimed at reactivating the national economy, thanks to the commitment of several multilateral organizations that have offered their support for this objective. “To reactivate the economy you need credit; credit to build housing, for the agricultural sector, for microenterprises, entrepreneurs and industrialists,” said the Ecuadorian president, Guillermo Lasso, who led a meeting with his collaborators from public financial institutions.
The President of the Republic Guillermo Lasso, participated by video conference of the XIV Atlantic Forum “Ibero-America: Democracy and Freedom in Hard Times”. This space was shared with the Heads of State of Uruguay, Luis Lacalle; Chile, Sebastián Piñera, and Colombia, Iván Duque.
“We are going to learn about the balance sheet of public financial institutions and define the first strategic lines” in this field, Lasso added during the meeting.
The Minister of Economy, Simón Cueva, indicated in statements to the press after concluding the meeting, that the resources of international organizations will be transferred in the form of credits through the National Finance Corporation (CFN) and the National Corporation of Popular Finance and Solidarias (Conafips).
“The objective is that public banks contribute to the objective of gradually reactivate the economy and that we recover quality employment for all Ecuadorians,” Cueva said.
Leonidas Espinosa, manager of Conafips, highlighted the possibility that the support of multilaterals opens up, which he said, “are funding the activities” of public financial entities.
This, Espinosa added, will allow the country to have economic resources so that this year it can “give money to institutions of the popular and solidarity economy that are made viable in productive credits and thus recover in an agile way” to the productive sectors.
He highlighted the support of organizations such as the World Bank (WB), the Inter-American Development Bank (IDB) and the Development Bank of Latin America (CAF).
These organizations “have trusted in the dream of many entrepreneurs,” which also have the support of the United Nations Development Program (UNDP) with the aim of “incorporating models that will enable sustainable credits to be activated throughout the country,” he said.
