Previous Story
Inter-American Development Bank gives Ecuador a $ 100 million loan
Posted On 27 Sep 2018
Ecuadornews:
The Inter-American Development Bank (IDB) approved a $ 100 million loan to Ecuador to strengthen the institutional and regulatory framework in the social areas.
The Minister of Economy and Finance, Richard Martinez, who accompanied President Lenin Moreno on his trip to the United States in the official delegation, said that this is the first time that the IDB has provided a loan for disability-related issues, which represents ” Strong support for the Government’s inclusive policy.”
The resources will be allocated to the strengthening of education, health and social protection services for people with disabilities and the prevention of violence and protection of women, children and adolescents.
According to a statement from the Ministry, the loan will be delivered in two phases: the first disbursement will be $ 60 million. The entire operation has a repayment term of 20 years and a grace period of 6.5 years.
“The Plan of Prosperity of Ecuador establishes, among its main axes, the protection of vulnerable groups, which is why this IDB loan will strengthen the priority sectors,” said Martínez.
Meanwhile, Moreno met with the president of the World Bank (WB), Jim Yong Kim, who ratified the willingness to support Ecuador in economic and social matters.
The president of the World Bank in Latin America, Jorge Familiar, said that ties with Ecuador are growing and deepening.
Chancellor José Valencia also attended this meeting; Minister Martinez; the private secretary of the Presidency, Juan Sebastián Roldán; and the ambassador of Ecuador in that country, Francisco Carrión.
Yesterday afternoon, it was planned to meet with investors.
The president will close his official agenda in New York today and will move to Boston to continue his activities that include sharing experiences on disabilities, scientific and academic research.
He will visit the Spaulding Rehabilitation Hospital, a center that treats disabilities.
The intention of Moreno is to know the technological advances of the center and its operation to apply these experiences in the country. (I)
“We work to achieve fiscal balance, optimizing the State with a solid democratic system that seeks peace and absolute respect for human rights.”
Lenin Moreno, president
