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The IDB offers credit for 100 million for the development of Ecuador
Posted On 08 Mar 2018
Ecuadornews:
The Inter-American Development Bank (IDB) today offered a loan of 100 million dollars to support programs that seek to promote progress and welfare in Ecuador.
The announcement was made after the meeting held in Quito by the Ecuadorian president, Lenin Moreno, with the manager of the Department of Andean Countries of the IDB, Rafael de la Cruz, reported the National Secretariat of Communication (Secom).
The Ecuadorian Foreign Minister, María Fernanda Espinosa, also participated in the meeting; the Minister of Industries, Eva García; and the IDB representative in Ecuador, Fernando Quevedo.
Moreno, during the meeting, recalled that the Inter-American Bank is an entity that supports development on issues “that are the ones that most affect the progress and well-being of the inhabitants.”
For her part, Minister Garcia highlighted the interest of the IDB to accompany the Ecuadorian Government in matters of development, assistance to minority groups, gender and those seeking to improve tax collection.
The Inter-American Bank currently maintains a line of credit for Ecuador of about 500 million dollars, Garcia recalled, stressing that this portfolio will increase by 100 million dollars in order for this item to be used in the scope that the Executive considers pertinent.
This implies “a vote of confidence” of the organism towards Ecuador, the minister said. (I)
