The CAF delivers credit of $ 200 million to Ecuador for power sector

In order to strengthen the electricity transmission networks in Ecuador, the Finance Minister Fausto Herrera signed a loan agreement with the Andean Development Corporation (CAF) for $ 200 million.

The Ministry of Finance reported that this project, which will be implemented by the Ministry of Electricity, belongs to the process of change in the energy matrix and will be part of the investment made to transform the electric potential of 120 to 220 volts.

This transformation is necessary for the installation of induction cookers network which is under development in the country.

“The CAF Board of Directors also approved the program of contingent lines to climate risks, accidents and epidemics contaminants with which each member country will have access to 50 million dollars,” the ministry said in a statement.

Herrera also analyzed with CAF the loans that will deliver the organism to the Ecuador for 2015 and possible new financing amid falling in oil prices internationally.